momentum breaking down below 3 year moving average
General Motors sitting on "volume defined" equilibrium.
Bias is bearish unless it can get back above the "wake up" line.
#generalmotors #gm #dji #spx
Earlier this month the company disclosed first quarter US deliveries rose 18% to 603,208 vehicles, with the automaker growing its US market share by an estimated 1.5%, the largest of any company in the industry, GM said.
GM also reported record electric vehicle deliveries of 20,670, though most of those were for the Chevrolet Bolt EV and EUV — GM only delivered...
On GM as you see on the chart we have the breakout of vwap and the support line so it's mean that we will have a big probability to have a downtrend.Thanks!
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...
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
Based on previous resistance I am potentially seeing a short position happening at $33 or close.
For confirmation we will wait for tomorrow 3/24 for final confirmation.
GM RSI hit oversold on the daily and MFI is moving up.
No idea if it goes straight up like Jan or double bottoms like Oct, Fed meeting next week.
Seems to me like the futures algos are on a melt up, there's some serious money pumping into the market on these morning gaps down. The worst of the news is probably over except the Fed next Wed.
This whole year has...
The target is D. Possible stop under C.
It is important to wait for EL level to clear possible resistance.
Good to be on look out for a reversal if/when price reaches D.
This is a measured move that occurs over and over again in the markets.
No recommendation.
T2 if Targets 1 are surpassed are 54.5 to 59
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 /...
Just so you guys know why I'm feeling bearish, I was watching GM all day after bailing on my calls yesterday. Appears GM is in range bound trading.
So basically my GM oscillator is at the top and needs to cycle down to the bottom at which point I'll turn bullish again. Probably coincides with SPX/NDX getting oversold on the daily.
Wish I had bought puts this...
