GM - End of a impulse waveThe 1-5 impulse wave seems to be over.
The only problem is the expected increase in volume has not yet
Even if the decline continues, a nice profit can be taken with gradual buying.
First target from here 47
GM trade ideas
Education: VolumeIntroduction
A financial transaction involving an exchange of goods results from a mutual agreement between buyer and seller. When referring to securities like stocks, an amount of goods exchanged between these two parties is called a volume. On a chart, the volume is often represented by green and red bars below the graph of a particular security. Information about the volume can give an analyst a better sense of market sentiment and help with the timing of trades.
Volume and liquidity
The amount of liquidity in a market translates to the ability to buy or sell a security. Money market instruments and marketable securities are considered to be liquid assets. However, market conditions do not always allow for enough liquidity, which is reflected in the volume. Sometimes, low liquidity may result in volatile price action, trend reversals, market gaps, etc. Generally, securities with high daily volume are more liquid than securities with low daily volume. Market holidays and shortened trading sessions have a tendency to be accompanied by low daily volume.
Illustration 1.01
The picture above shows Histogen Inc. on a daily time frame. Penny, micro-cap, and nano-cap stocks, which trade over-the-counter, are notorious for their low daily volumes.
The price-volume relationship
Analyzing the price-volume trend can reveal additional clues for the successful execution of a trade. Usually, an asset's simultaneous increase in volume and price is considered positive. Additionally, it often confirms a bullish thesis. However, a decrease in volume accompanying an ongoing rise in the price may give a technical analyst a hint that fewer buyers are willing to buy an asset. Therefore, a technical analyst should treat the decrease in volume and increase in price with some skepticism and pay close attention to it. The same rule applies when volume increases and price decreases simultaneously. Some analysts like to differentiate between significant and insignificant moves depending on the volume size. Price moves that occur on low volume tend to be considered less important than those on high volume. Typically, volume tends to increase as a trend develops. In an uptrend, a security tends to top when buyers are no longer willing to pay the asking price and start leaving a market. In a downtrend, a bottom tends to form when sellers lessen their selling pressure; or a substantial portion of new buyers enter a market. In some instances, quick and sharp growth in volume can signal the beginning of a new trend; or it may imply new traders have entered the market.
Illustration 1.02
The illustration shows the Covid 19 crash in 2020. Volume can be seen increasing in the early stage of the crash; it is accompanied by a fast and sharp drop in price. Eventually, volume can be seen decreasing towards pre-pandemic levels, reflecting weakening selling pressure.
Reporting
Each market exchange tracks and reports its volume data for a particular security. Volume is regularly updated throughout the trading session. However, the figure is only estimated as final figures are reported on the following day.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
WATCHING $GM Key Levels, Analysis, & Targets WATCHING $GM Key Levels, Analysis, & Targets
Here’s another one that got to my entry target (actually it’s a little below)
I am going to start to scale in tomorrow. I would love to see target’s 1,2 and 3 hit and if they do I’d be looking for a 30% swing.
——
---
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
$GMDaily bear flag forming on $GM approaching support. Break and hold of 42.37 for a short to next marked level. Break and hold of 45.27 to play long side.
#Stocks #DayTrading $XLY
General Motors just negated a key trend.The stock may now be trading in a downtrend. A downtrend occurs when a stock consistently makes a series of lower lows and lower highs on the chart.
The lower lows indicate the bears are in control, while the intermittent lower highs indicate consolidation periods. Traders can use moving averages to help identify an uptrend with descending lower timeframe moving averages (such as the eight-day or 21-day exponential moving averages), indicating the stock is in a steep shorter-term downtrend. Descending longer-term moving averages (such as the 200-day simple moving average) indicate a long-term downtrend.
A stock often signals when the lower low is in by printing a reversal candlestick such as a doji, bullish engulfing or hammer candlestick. Likewise, the lower high could be signaled when a doji, gravestone or dragonfly candlestick is printed. Moreover, the lower lows and lower highs often take place at resistance and support levels. In a downtrend, the "trend is your friend" until it’s not, and in a downtrend, there are ways for both bullish and bearish traders to participate in the stock:
Bearish traders who are already holding a position in a stock can feel confident the downtrend will continue unless the stock makes a higher high. Traders looking to take a position in a stock trading in a downtrend can usually find the safest entry on the lower high.
Bullish traders can enter the trade on the lower low and exit on the lower high. These traders can also enter when the downtrend breaks and the stock makes a higher high, indicating a reversal into an uptrend may be in the cards. On Friday, when General Motors fell below the most recent lower high at $43.28 on March 28, the uptrend negated and the stock may now be trading into a downtrend, although a lower high over the coming days will need to be printed for confirmation.
General Motors attempted to regain the eight-day exponential moving average on Friday after falling below the level on Thursday, but failed. The most likely scenario is that the eight-day EMA will now guide the stock lower.
The stock’s relative strength index (RSI) has now crossed below the average, which further indicates a downtrend is on the horizon. As the RSI approaches the 30% level, traders can watch for a bounce to take place. The RSI is currently measuring in at about 42% and trending downward.
Bulls will want to see big bullish volume come in and push General Motors back up above the eight-day EMA on Monday, which would indicate Friday’s price action was a bear trap.
General Motors has resistance above at $42.89 and $44.87 and support below at $40.04 and $38.03.
$GM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $GM after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 63.64%.
GMLost the 2017 highs this week. Looking like a double top at the 1.618 extension. Looking for support at $34 next imo.
Price Points: Please read the descriptionSolid Orange = Yr, 6 Month & Qtr
(dashed orange) = Qtr
Solid Green = 2 Month
(dashed Green) = Monthly
Solid Light Blue = Weekly: 3
(dashed light blue) = Weekly: 2
(dashed dark blue) = Weekly
(dashed pink line) = Daily: 4 & 3
(dashed grey line) = Daily: 2
(dotted grey line) = Daily
$GM - weekly forming double top, puts < 47$GM - weekly forming double top, puts < 47
- At critical support level
- Weekly formed double top
- break below support line for puts
GM longHey folks, happy Monday! Hope you are all doing well!
GM has reached areas of strong support and the indicators are showing that it has bottomed and is oversold.
I personally think that this is a good time to enter a trade with low risk and high return.
WATCHING $GM for entry at 46.03WATCHING $GM for entry at 46.03
GM is looking like it’s getting close to the entry (start position) target
Could be a good swing setup…
And for options, all 3 targets would be a great place to sell puts -
Just chose dates wisely.
Happy Valentine’s Day & GL
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
Sale of cars won't go up during inflationI like the short setup now, because if there is a breakout, it will be magnificent.
I picked GM mainly due to fundamental reasons. If price of oil is too high, people won't get a car when they can't afford a fuel. In the long-term, GM will lose market share to prominent electrict vehicles manufacturers. This switch to electrict cars is another good reason. I expect people to buy used cars if they go for petrol based ones.
$GM - Failed single bust? Rectangle now?In my previous chart, I thought single bust pattern was playing out up until it was rejected at the trend line that was caused by reaction to ER and supply chain concerns and analysts down grade. Recently by Ukraine invasion by Russia. Now it looks like it's going to form a rectangle. I would watch $47 area for support. If $47 support fails, bearish case plays out and it could head to $42.83 with worse case $37 to $35 area.
If $47 holds and break above $54, bullish case could play out and price could head back to $62.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
Watching $GM for entry at 46.03Watching $GM for entry at 46.03
Alert set for 47
46.03 entry
Add at 40
Double at 35.19
That’s the plan…
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
strategy for GM friday 02/04/2021 GM: sell zone ( 55.50 ) ( 55.00 ) entry to buy above ( 53.50 ) if so we will take profits next to the sell zone, and if there is a break in the sell zone next to continuity it is ( 56.00 )
bearish entry: must be below (52.50) bearish trend of the previous day, positive daily chart closing candle (green) in case of opening with a gap we would have a bearish gap and go, it also has an inside bar
GM MOTORSPossible re-accumulation for a move slightly higher.
Looking for a reaction on both levels here before going long.
Mark Minervini's Style Analysisbought on 11th Jan at this point:
might:
EP: $43.5
SL: $42.32 (2.71%)
conditions:
1)trend in place (small EMA above big EMA)
2) good volumes
3) ATR declining
4) ~12% correction
5) price very close to EMA21 & EMA50
6) price acting 2weeks: 1st week there's shakeout,
but following day buyer sending back in the EMA21 area
(bullish sign = tennis ball action)
$GM - potential single bust ascending triangle playPrice broke down from ascending triangle to approximately 10% below the lower trend line. The price retested previous low today without further breaking down. This is encouraging, as this could be seen as buyers are willing to come in as soon as the price visit below $50.
Since the price did not break down further than 10% from the lower trend line, we can expect the price to travel back into the triangle and head towards $64 area with $58.28 acting as a tough resistance area. Single bust pattern states that after breaking down from the triangle the price should not travel more than %10 before reversing and eventually travel back into the triangle for a break out.
However, if we break below $49, we can expect the price to reach $47 before finding any support.
Target 1 - $58.28
Target 2 - $64
Risk - Breaking down to $47
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
GM out of gas. GMWe have been following this one for a while suspecting a giant zigzag or flat. Our expectation has been confirmed. And this is why we use Elliott. It is the only system known to us that is truly predictive of the market. Other system, in our opinion, are practical gambles situationally. This is not to mention that combinations involving Elliott, like the ones we use, are significantly more profitable than any other system we have tried. It is a difficult system to master, and we have met only a handful of true masters of Elliott.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
