Contrary to the market performance, GM has not done so good so far. It has consolidated over 4 month lagging the market.
Now though, the picture seems to be changing a bit. Recently, GM has pierced through the rock solid $38 level, and seems comfortable, with no signs of reversal.
Using the PivotBreak and the SmartPoint indicators shows us a bullish formation that could lead eventually to a real breakout. We are still bullish above the 39.20 level, indicated by the yellow pivot line, an indication supported by the positive channel in between the smartPoints bands.
Now though, the picture seems to be changing a bit. Recently, GM has pierced through the rock solid $38 level, and seems comfortable, with no signs of reversal.
Using the PivotBreak and the SmartPoint indicators shows us a bullish formation that could lead eventually to a real breakout. We are still bullish above the 39.20 level, indicated by the yellow pivot line, an indication supported by the positive channel in between the smartPoints bands.