GM trade ideas
Breakout on GMNYSE:GM
Lower High has been formed and the Lower Low has been breakout!
Minimize the risk by using Trailing Stop every time the Lower High been formed, according to the fractals.
Where to place your stop loss-a close above theThe big question in every trader mind, where to place my STP loss. most common trading strategy calls to place the stop loss above a SZ (Supply zone) or Below a DZ (Demand Zone), right that seems easy but its not. ask any trader & he will recount stories of price violating the SZ, & the stop loss is triggered the loss is carried (hopefully small) only to have the price reverse fortune.
This is exactly what occurred in this short trade on NYSE:GM (General Motors); on the left hand side we have the long-term chart (W) & on the right hand side we have the trade chart(D).
The Long-term chart is clearly in downtrend. the price came into the Lower High of the (W) downtrend. a short was opened @39.20 with a stop loss above the LH of the (W) downtrend slightly above @41.00 many odds are in the favour of taking this trade.
What is interesting, on the right hand side, (D) chart, the price violated the LH supply zone & closed above the supply zone (The red circle) ; my trade plan calls to close a trade after a candle stick
* Violates a Supply zone by 10%
* candle stick closes above the SZ
Both conditions were met here, yet I did not close the trade & waited for a confirmation. yes i violated my own trade plan. Trading is fluid & my trade plan is ever changing. I closed the short today @32 mark. No permanent was made to my trade plan. but I took note of a price violating the SZ by over 10% & closing above the SZ but still the SZ held & the Short worked out.
GM UpdateLooks to me like it's headed back to support, will probably try to play the bounce then.
At this point, every GM trader is probably thinking the same thing so it'll probably get there quickly. Not sure when, but I would short any big bounces, no position right now, not gonna chase this big drop
gm 2 scenariosgm 2 scenarios .. 1] buy above the resistance 1 and 50ma .. 2] sell under the support 1 and 200ma ..
GM:Bullish Channel?General Motors Company
Short Term - We look to Buy at 39.04 (stop at 36.14)
The bullish engulfing candle on the daily chart is positive for sentiment. A bullish reverse Head and Shoulders is forming. This is positive for sentiment and the uptrend has potential to return. Dip buying offers good risk/reward. Further upside is expected.
Our profit targets will be 46.31 and 48.00
Resistance: 46.00 / 50.00 / 65.00
Support: 39.00 / 30.50 / 14.50
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
GM posts BUY signalPrice action confirmed a breakout to the upside.
Price is above the 50 day, the target is below the 200 day.
RSI is bullish, volume is green.
I've identified the ideal entry, stop and target.
$GM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $GM after a Negative over reaction following its earnings release placing the stock in drift C.
$GMLast week (previous candle), we have located a potential market anomaly. A shooting star candle with above average buy volume. I feel like bulls that missed out or still attempting to squeeze juice from the July 11th rally may get some tough days ahead. Price could continue to rise a small bit. However, we are waiting on distribution which should take us to the 2nd wave. We don't know how long this will take. The RSI K/D is starting to cross down from an over bought stance. We are looking for price to reach $35 to $37 at some point. We just completed an ABC expanded flat on the weekly and will be patient to see if a new impulsive wave is coming down the line. At this point, we will be looking to trade each wave so I will update as we go.
What do you think?
GM LongGeneral Motors have been recently getting very good news this past few weeks and I feel as if they are going in for a good upward spike. Their revenue is very consistent annually and is mostly on the positive side. Their publicly traded debt is over $100bn but their bond rate has been kept pretty consistent lately. This could take a few weeks, even months, but I can see a small continuous downward position, then a switchback.
GMGeneral Motors (GM) poised to continue its rally if it breaks above $40.28. If that happens, there is a possibility of a trend continuation either towards $43.24 or $46.74. In contrasts, a daily close above $37.29 may provide short selling opportunities with a potential retest of $34.31 support. A subsequent daily close below the first support could open the door towards the year to date low of $30.33.
gm 2 scenariosgm 2 scenarios .. 1] buy above the resistance 1 and 200ma .. 2] sell after the break under the support 1 and 200ma ..
GM UpdateSo a month or so ago I pointed out that GM hit the preCOVID support and that the easy money was done.
So here we are, I think we're back to rangebound trading, I think the entire market more or less bounces sideways for a while after next week's CPI numbers.
I'm bullish until Monday I think then the market is gonna bounce around. Gotta look for opportunities like the WMT chart I posted a couple of days ago. Guessing market direction will be tricky from here on....
Long GM nowThe end of the negative trend?
The wedge shape seems to be broken, the movement of the indicators confirms the change. The exchange rate is looking for a direction.
The next 5 waves emerging?
The largest investor also bought it (W.B.).
$GM General Motors holding supportI wouldve really loved to see this come down to the .886 but it seems to be holding a very critical level for now, with triple hidden bullish divergence as the RSI begins to break above the moving average.
GM (You like the Shoe?)We may be around an area where there is usually a good amount of sell volume. We are also on our third green wick'd candle within the last day. Of course we are overbought on the RSI and our current wave may be at its 161% threshold. I believe its a reverse abc pattern. Price is definitely at an important level where we should be able to see if price can push through the trend line. Until that point is proven, I'd like to see it test its recent low. Let's see how the open goes. Not advice.
General Motors - Trouble brews in the auto industryThe prospect of a recession hints at hard times ahead for auto producers, including General Motor Company; over the past six months, this stock lost more than half of its value. Additionally, it continues to constitute new lows, confirming the presence of the downtrend. As a proxy to that, we are bearish on the title and expect worsening economic conditions to impact the auto industry very negatively in the short-term and medium-term future. Therefore, we would like to set the price target for GM to 30 USD and 29 USD.
Illustration 1.01
The picture above shows the weekly chart of General Motors Company. It also shows two simple moving averages: 20-week SMA (blue) and 50-week SMA (red). These two moving averages continue to confirm the medium/long term bearish trend.
Technical analysis - daily time frame
RSI is bearish. MACD and Stochastic are neutral/slightly bearish. DM+ and DM- are bearish. The ADX grows which hints at the increasing momentum. Overall, the daily time frame remains bearish.
Illustration 1.02
The weekly chart of GM stock shows the staggering loss of approximately 54% within the past 189 days.
Technical analysis - weekly time frame
RSI is due to pierce through 30 points, which will further bolster the bearish case for GM. Stochastic, MACD, DM+, DM- are all bearish. Overall, the weekly time frame remains bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
The easy money is over - GM plotI think the easy money is done, a lot of stocks are back to preCOVID levels, and some are (deservedly) below like PTON (lol)
There's a pretty good chance the market just goes sideways here unless there's a recession (or projected recession)
GM UpdateGM has been fairly strong here in this crap market, holding support. Today's low was actually higher than yesterday's.
Hoping for an inverted H&S pattern here, $33 target if the market goes green tomorrow. Safer play is next week's calls or just buy the stock.
