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1GM trade ideas

Another Healthy Pullback in General MotorsGeneral Motors continues to push higher as investors embrace value stocks and the cyclical recovery. Once again the chart is giving some potential signals. First, the auto maker pulled back to hold the trendline in place since the start of the year. It’s also bouncing near its 50-day simple moving average (SMA). Second, notice the large bullish candle on Thursday, March 25. Price came within $0.12 of the 50-day SMA but couldn’t reach that level. GM has remained above that candle since – a potential sign of buyers lurking not far below the surface. Next, GM’s 8-day exponential moving average (EMA) has remained above the 21-day EMA. That’s a sign short-term trend is still bullish. Finally, notice that the current bounce is occurring near the $57 area where GM topped in January and February. Is old resistance becoming new support? TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:GMLong
by TradeStation
1
Go long GM, unusual options activity Go long; there's a story behind the EV transformation and Ultium battery technology is promising. Not only that but there has been unusually large buying of the $60 strike call options for GM, signifying big bets usually from big institutional investors or other high net-worth traders. Unusually high call volumes are very bullish and can cause a gamma squeeze; which can force additional stock-buying due to open options positions on the underlying stock.
NYSE:GMLong
by EBITDAtiger
4