Here is a 3 bar play also known as a 1-2-3 pattern accompanied by a bull flag on the 5m that has already broken out. Will be looking to ride calls up to the dotted line level which is the last swing high. Simple but effective. If price is not able to hold above the green "Calls" level then the play will be invalidated.
General Motors Company - 30d expiry - We look to Buy at 33.55 (stop at 31.83)
Trend line support is located at 33.50.
A lower correction is expected.
We look to buy dips.
Prices expected to stall near trend line support.
This stock has seen good sales growth.
Expect trading to remain mixed and volatile.
Our profit targets will be 37.84 and 38.74...
NYSE:GM
- Beautiful bounce off of daily demand and now gaining traction as well as lower channel bounce (confluences)
- A break and hold above 37.00 can test 37.76 resistance then psych level at 38.00. Above 38, you're opening doors for more upside with a final target at 40.00
Contract Suggestions which covers earnings run up as well:
GM 4/28 36 CALL
GM 4/28 37 CALL
General Motors Company - 30d expiry - We look to Buy at 33.34 (stop at 31.54)
The trend of higher lows is located at 33.30.
Short term momentum is bearish.
Prices expected to stall near trend line support.
Expect trading to remain mixed and volatile.
Preferred trade is to buy on dips.
Our profit targets will be 37.84 and 38.84
Resistance: 40.00 / 41.50 /...
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...
SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS...
This is only a trading capability - no recommendation !!!
While january`17 maybe i`ll confirm or change my opinion :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
