$F $GM and the rest. $SPYI was thinking on my previous idea of a correction for the market and I went to the "cars" charts. The same here for this companies. a correction with the chance of a melt down for this sector. $SPY $F $GM
GM
GM (Range Trade)$41.48 to $42.36 were two recent noteable highs since September. Price rejected the $41.50 area twice in November. Daily is oversold so we still need to be a bit careful here for the type of range trade we are looking for. Might wait til the fed decision and cpi reports pass next week to get a second look.
IBM - Harmonics (theory)The first thing to look for when identifying the Bat pattern is the impulsive leg or the XA leg. We’re looking for a strong move up or down depending if we either have a bullish or a bearish Bat structure.
The next thing that needs to be satisfied for a valid Bat pattern structure is a minimum 0.382 Fibonacci retracement of the XA leg and it can go as deep as 0.50 Fibonacci retracement of the XA leg, but it can’t break below the 0.618. This will create the B leg of our Bat pattern.
How to trade the bat pattern
The next thing we’re going to look for is a retracement of the AB leg up to at least 0.382 Fibonacci ratios, but it can’t go above 0.886, and this will create our third point C of the harmonic Bat pattern strategy.
The last thing we want to establish is the D point and in order to get to the D point, all we do is to find the 0.886 Fibonacci ratios of the impulsive XA leg, which will result in a deep CD leg and finally it will complete the whole Bat pattern structure.
In the current scenario, I presented also a surprising correlation between the time cycles, where the X and A leg time frame could indicate potential CD range. As described above - if this scenario turns true and price action will indeed form a bullish harmonic bat here, the initial retracement could potentially reach levels of the previous low of this cycle (X).
This is just a tutorial and an idea for a potential Long, at the bottom of the formation and end of the current time cycle - nevertheless, I mark this idea as Neutral and place IBM in my 'watched' list.
$GM: Interesting weekly uptrendI like the setup in $GM, which I think can move fast here if EV names gain traction. I'm already long $F from lower in my long term account, but want to add a short/mid term position in $GM here.
Valuation is not as interesting and I don't particularly love Mary Barra's execution or her being prone to corrupt political shenanigans with Unions and Biden backing her, but well, the setup is good and likely will produce good returns within 8 weeks. The company is highly leveraged, and revenue growth is low, but seems to have bottomed out. Price to sales suggests it's cheap, same as earnings yield which sits at 14% ish. They have been burning cash though, but perhaps their cheap EVs and the Silverado truck do well going forward. I'm not likely to participate for longer than short and mid term technical setups suggest we should remain involved with the stock though.
Best of luck!
Ivan Labrie.
F Head and Shoulders SHORTFord had great earnings and revenue beats in July however inflation
is eroding the purchasing power while Ford raised the price of its flagship
EV, the Lightning by $8000+ and supply chain issues persist.
The 2H Chart shows a head and shoulders pattern with price currently
sitting at the trigger area at a time when the general markets are
"challenged".
Shown on the chart are the mid-Fibonacci levels on the retracement
of the uptrend which started July 5th and ended about August 16th.
Thye may suggest that F could downtrend into targets in the range of
14.3 to 13.05 over the typical slow and weak month of September.
In consideration of this, I will go flat on call options and watch for
Ford's further trend.
FSR is it ready to breakout from a Descending TriangleFSR could follow TSLA in a current up trend, especially with general market support.
Fundamentally, the recent earnings report was favorable. GM's report of plans for
a competing vehicle in the low-cost electric Equinox could be fundamentally adverse.
FSR is in a descending triangle with an overall price decrease of $2 so any breakout
could yield an up trend of $ 2 or about 20%. Drawn onto the chart are support and
resistance lines with targets just before the resistance lines are hit.
SELL TSLA BUY FORDThis DAILY CHART shows the ratio of the TSLA price to the F price
to generate signals to buy and sell Ford and Tesla by exchanging
stock one for the other upon a signal.
Eton Musk who is not a stupid or poor guy just the other day
sold $6 TSLA stock at the local pivot high. He is an insider;
others will follow his lead.
S horting TSLA or buying near term put options may be a wise
reaction to the move TSLA and its CEO are making.
$GMLast week (previous candle), we have located a potential market anomaly. A shooting star candle with above average buy volume. I feel like bulls that missed out or still attempting to squeeze juice from the July 11th rally may get some tough days ahead. Price could continue to rise a small bit. However, we are waiting on distribution which should take us to the 2nd wave. We don't know how long this will take. The RSI K/D is starting to cross down from an over bought stance. We are looking for price to reach $35 to $37 at some point. We just completed an ABC expanded flat on the weekly and will be patient to see if a new impulsive wave is coming down the line. At this point, we will be looking to trade each wave so I will update as we go.
What do you think?
GMUSDT more gain 📖🚀Hello 🐋
Based on the chart after a long time, correction to the downside and range market we have new volume ✔️
if
the price doesn't break the green trend line to the downside, we will see more gain 📖🚀
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
FORD Swing Trade after REVERSAL in JulyNYSE:F
F is trending up while TSLA heads down
US Legislation to support EV purchases with tax credits is helpful
GM's financial troubles are helpful.
Chart shows upgoing BB/EMA channels
and mid-range RSI with recent K/D crossover.
Both suggest a potential swing entry. Depend on unforeseen
changes in the automotive market or the market at large
and a recession versus continued uncertainty, F could
the uptrend for several months also made for the
opportunity to trade call options.
Trade often. Trade well !
GM (You like the Shoe?)We may be around an area where there is usually a good amount of sell volume. We are also on our third green wick'd candle within the last day. Of course we are overbought on the RSI and our current wave may be at its 161% threshold. I believe its a reverse abc pattern. Price is definitely at an important level where we should be able to see if price can push through the trend line. Until that point is proven, I'd like to see it test its recent low. Let's see how the open goes. Not advice.
General Motors - Trouble brews in the auto industryThe prospect of a recession hints at hard times ahead for auto producers, including General Motor Company; over the past six months, this stock lost more than half of its value. Additionally, it continues to constitute new lows, confirming the presence of the downtrend. As a proxy to that, we are bearish on the title and expect worsening economic conditions to impact the auto industry very negatively in the short-term and medium-term future. Therefore, we would like to set the price target for GM to 30 USD and 29 USD.
Illustration 1.01
The picture above shows the weekly chart of General Motors Company. It also shows two simple moving averages: 20-week SMA (blue) and 50-week SMA (red). These two moving averages continue to confirm the medium/long term bearish trend.
Technical analysis - daily time frame
RSI is bearish. MACD and Stochastic are neutral/slightly bearish. DM+ and DM- are bearish. The ADX grows which hints at the increasing momentum. Overall, the daily time frame remains bearish.
Illustration 1.02
The weekly chart of GM stock shows the staggering loss of approximately 54% within the past 189 days.
Technical analysis - weekly time frame
RSI is due to pierce through 30 points, which will further bolster the bearish case for GM. Stochastic, MACD, DM+, DM- are all bearish. Overall, the weekly time frame remains bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
$GM Analysis, Key Levels, and Targets$GM Analysis, Key Levels, and Targets
Dang… it’s so fun to look back at my old projections and watching them play out… I don’t always play them…
Target 4 & 5 I have alerts on…
Anything underneath that gap is a screaming buy… that’s also another 28% down….
Play what you see…
What sectors do you guys see doing well in the next few years... I'm sorry I've been slow to respond to comments lately... I do try, as time permits...
Happppy Juneteenth, y'all...
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
Will General Motors Make A Meaningful Reversal ?GM printed a double bottom pattern on May 12 and Friday near the $34.58 level. On Monday, the stock was attempting to react bullishly to the formation but rejecting at the eight-day exponential moving average.
GM has been trading in a consistent downtrend since May 4, when the stock topped out at $41.24. The downtrend is likely to continue unless GM is able to soar up to print a higher high above the most recent lower high of $38.55 or if the stock prints a higher low above the double bottom pattern on the next retracement.
Bullish traders looking to scalp GM for its run to the next lower high will want to see the stock close the trading day near its high-of-day price, which will cause GM to print a hammer candlestick and indicate higher prices are likely to come on Tuesday. Bearish traders will want to see GM continue to reject the eight-day EMA, which could indicate Monday’s high-of-day is the next lower high within the downtrend.
GM has resistance above at $38.03 and $40.04 and support below at $35.38 and the double bottom level.
Shorting $GM General MotorsI'm going to short General Motors, my target price to exit is $20. Let me know in comments what do you think.
GMLooks like we are in a WXYXZ Wave.
MacD and RSI overbought.
I want to see if price can reach the Y phase. However, I only want to see price make it between $40-$41. Small move but testing out a theory here. Which is 38% - 61% towards the "y"
IYT Oversold and at supportTransports (IYT) ETF is oversold and at support. Biggest holdings are UPS and UNP. Something to watch next week.
GM is also almost oversold, might take a stab if MFI touches oversold next week. Double bottom maybe?
WATCHING $GM Key Levels, Analysis, & Targets WATCHING $GM Key Levels, Analysis, & Targets
Here’s another one that got to my entry target (actually it’s a little below)
I am going to start to scale in tomorrow. I would love to see target’s 1,2 and 3 hit and if they do I’d be looking for a 30% swing.
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
General Motors just negated a key trend.The stock may now be trading in a downtrend. A downtrend occurs when a stock consistently makes a series of lower lows and lower highs on the chart.
The lower lows indicate the bears are in control, while the intermittent lower highs indicate consolidation periods. Traders can use moving averages to help identify an uptrend with descending lower timeframe moving averages (such as the eight-day or 21-day exponential moving averages), indicating the stock is in a steep shorter-term downtrend. Descending longer-term moving averages (such as the 200-day simple moving average) indicate a long-term downtrend.
A stock often signals when the lower low is in by printing a reversal candlestick such as a doji, bullish engulfing or hammer candlestick. Likewise, the lower high could be signaled when a doji, gravestone or dragonfly candlestick is printed. Moreover, the lower lows and lower highs often take place at resistance and support levels. In a downtrend, the "trend is your friend" until it’s not, and in a downtrend, there are ways for both bullish and bearish traders to participate in the stock:
Bearish traders who are already holding a position in a stock can feel confident the downtrend will continue unless the stock makes a higher high. Traders looking to take a position in a stock trading in a downtrend can usually find the safest entry on the lower high.
Bullish traders can enter the trade on the lower low and exit on the lower high. These traders can also enter when the downtrend breaks and the stock makes a higher high, indicating a reversal into an uptrend may be in the cards. On Friday, when General Motors fell below the most recent lower high at $43.28 on March 28, the uptrend negated and the stock may now be trading into a downtrend, although a lower high over the coming days will need to be printed for confirmation.
General Motors attempted to regain the eight-day exponential moving average on Friday after falling below the level on Thursday, but failed. The most likely scenario is that the eight-day EMA will now guide the stock lower.
The stock’s relative strength index (RSI) has now crossed below the average, which further indicates a downtrend is on the horizon. As the RSI approaches the 30% level, traders can watch for a bounce to take place. The RSI is currently measuring in at about 42% and trending downward.
Bulls will want to see big bullish volume come in and push General Motors back up above the eight-day EMA on Monday, which would indicate Friday’s price action was a bear trap.
General Motors has resistance above at $42.89 and $44.87 and support below at $40.04 and $38.03.
GM longHey folks, happy Monday! Hope you are all doing well!
GM has reached areas of strong support and the indicators are showing that it has bottomed and is oversold.
I personally think that this is a good time to enter a trade with low risk and high return.
WATCHING $GM for entry at 46.03WATCHING $GM for entry at 46.03
GM is looking like it’s getting close to the entry (start position) target
Could be a good swing setup…
And for options, all 3 targets would be a great place to sell puts -
Just chose dates wisely.
Happy Valentine’s Day & GL
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
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