GM is on a 4H chart. Fundamentally, the last earnings were good. GM is challenged by the adoption
of electric vehicles and the transformation of its core business. Small EV companies ( CANOO, RIDE, WKHS, FFIE, MULN)
are mainly undercapitalized noise. The competition is really TSLA and Ford. Earnings upcoming are April 25th
Technically, the price has been trending also a support of the lower standard deviations of the anchored VWAP originating
on the date of the last earnings. Recently price has moved from -2 STD VWAP band to the higher -1 STD band.
Price is now sitting on the support shown by the Luxalgo indicator with the earnings report due The VWAP bands
are quickly losing slope as earnings report day of April 25 approaches. the zero lag MACD has lines crossing under the
zero line and the histogram has just turned positive. These serve as confirmation entry signals.
I see this as entry time for an earnings play. Entry is by market order with a stop loss below the demand zone.
Targets are VWAP ( purple line), the midline between the demand/supply zones, and then the final target is the +1 STD above
VWAP ( downsloping stepped black line). Overall a reward for the risk of about 4X. I may opt to play this with call options
striking $35.00 expiring on 5/5 and currently priced at
112
per contract.
of electric vehicles and the transformation of its core business. Small EV companies ( CANOO, RIDE, WKHS, FFIE, MULN)
are mainly undercapitalized noise. The competition is really TSLA and Ford. Earnings upcoming are April 25th
Technically, the price has been trending also a support of the lower standard deviations of the anchored VWAP originating
on the date of the last earnings. Recently price has moved from -2 STD VWAP band to the higher -1 STD band.
Price is now sitting on the support shown by the Luxalgo indicator with the earnings report due The VWAP bands
are quickly losing slope as earnings report day of April 25 approaches. the zero lag MACD has lines crossing under the
zero line and the histogram has just turned positive. These serve as confirmation entry signals.
I see this as entry time for an earnings play. Entry is by market order with a stop loss below the demand zone.
Targets are VWAP ( purple line), the midline between the demand/supply zones, and then the final target is the +1 STD above
VWAP ( downsloping stepped black line). Overall a reward for the risk of about 4X. I may opt to play this with call options
striking $35.00 expiring on 5/5 and currently priced at
112
per contract.