$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.
4GM trade ideas
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.
Analysis On GM we see on the chart that the vwap indicator was forcefully broken by the sellers. However, if the support line is also broken forcefully by a large candle and followed by large volume we will have a downtrend. But, as we say, we must be careful because we can also have the break of the resistance line as well as the vwap with force by a large candle and accompanied by a large volume, hence an uptrend. So said, you have to be really patient so that all the conditions are met. thank you.
$GM Analysis, Key Levels, and Targets$GM Analysis, Key Levels, and Targets
Dang… it’s so fun to look back at my old projections and watching them play out… I don’t always play them…
Target 4 & 5 I have alerts on…
Anything underneath that gap is a screaming buy… that’s also another 28% down….
Play what you see…
What sectors do you guys see doing well in the next few years... I'm sorry I've been slow to respond to comments lately... I do try, as time permits...
Happppy Juneteenth, y'all...
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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…
What wil General Motors do?I share TWO of my IDEAS!
1. First Option (1 YEAR)
Is done by looking at the Financial Health, Historical DATA and
calculating its Fair Value Today
2. Second Option is a Longterm Investment. That depends on the Market and Growth of GM
Disclaimer;
NO ADVICE TO INVEST and TRADE SAFE!
Will General Motors Make A Meaningful Reversal ?GM printed a double bottom pattern on May 12 and Friday near the $34.58 level. On Monday, the stock was attempting to react bullishly to the formation but rejecting at the eight-day exponential moving average.
GM has been trading in a consistent downtrend since May 4, when the stock topped out at $41.24. The downtrend is likely to continue unless GM is able to soar up to print a higher high above the most recent lower high of $38.55 or if the stock prints a higher low above the double bottom pattern on the next retracement.
Bullish traders looking to scalp GM for its run to the next lower high will want to see the stock close the trading day near its high-of-day price, which will cause GM to print a hammer candlestick and indicate higher prices are likely to come on Tuesday. Bearish traders will want to see GM continue to reject the eight-day EMA, which could indicate Monday’s high-of-day is the next lower high within the downtrend.
GM has resistance above at $38.03 and $40.04 and support below at $35.38 and the double bottom level.
US auto GM, F & TSLA comparisonUS auto GM, F & TSLA 1 day chart YTD comparison %$ and p/e:
GM = p/e 5.983
F = p/e 4.518
TSLA = p/e 97.117
GM = -38.15%
F = -7.52%
TSLA +15.64%
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
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Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
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tickerTracker - MFI Oscillator
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General Motor USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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