GMD trade ideas
$GM | Inverse Head and Shoulders and Bull Flag Breakout$GM broke out of a bull flag after retesting the neckline of a bullish inverse head and shoulders pattern.
Watch for a close above 58.75 as confirmation. I
nitial Target is 59.75 to fill the gap.
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Another Healthy Pullback in General MotorsGeneral Motors continues to push higher as investors embrace value stocks and the cyclical recovery. Once again the chart is giving some potential signals.
First, the auto maker pulled back to hold the trendline in place since the start of the year. It’s also bouncing near its 50-day simple moving average (SMA).
Second, notice the large bullish candle on Thursday, March 25. Price came within $0.12 of the 50-day SMA but couldn’t reach that level. GM has remained above that candle since – a potential sign of buyers lurking not far below the surface.
Next, GM’s 8-day exponential moving average (EMA) has remained above the 21-day EMA. That’s a sign short-term trend is still bullish.
Finally, notice that the current bounce is occurring near the $57 area where GM topped in January and February. Is old resistance becoming new support?
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Long | GMNYSE:GM
Possible Scenario: LONG
Evidence: Price Action, Unusual option activity
This is my idea and could be wrong 100%,
Calls strike 64$, 1st April
* great opportunity,
Target price update for GMI always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment nor a recommendation to trade..!
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$GM Breakout updateBullish flows all week pushed GM past ATH today with strong volume. For short term targets I have set the previous wave 4 as my fib lvl 0 and nearest previous high as 100. I'll be using the 1.618 as my first target. My second target is the 1.618 from the trend it broke out from. Any pullback from 60 should be bought until EMAs show otherwise.
GM wants 100?! on watch for calls next week great breakout on the weekly chart. we saw top trendline resistance turn into support in early June 2021. that was the sign to add more. off to the races now with price target of 70 by late April. goodluck to longs!
BUY GM PT 60, SL 54Rationale
GM has seen heavy call flow over the past two days.
Bull flags have been forming on both the 10 minute and daily chart
Strong relative strength these past 2 weeks.
Potential to break monthly high price.
$GM Run Forrest, Run!After 2 months of consolidation, finally the stock is heading north and is now at its ATH. I guess the EV story and the opening of the economy in the next few months will have a positive effect on the company. I have a PT of 65 for April. Lets see
GM Breaks out from a Flat base pattern into new all time highsGM Breaks out from a Flat base pattern into new all time highs
GM What do you think?
We are in a bubble anyway.... If I stay loyal to TA that W pattern looks ready to drop soon to test previous support.
Like, Follow, Agree, Disagree!
$GM Upside before ER, daily breakoutGreat bullish crosses across the board that should indicate more upside and a daily breakout really soon.
Go long GM, unusual options activity
Go long; there's a story behind the EV transformation and Ultium battery technology is promising. Not only that but there has been unusually large buying of the $60 strike call options for GM, signifying big bets usually from big institutional investors or other high net-worth traders.
Unusually high call volumes are very bullish and can cause a gamma squeeze; which can force additional stock-buying due to open options positions on the underlying stock.
General motor - Pennant indicate further upsideGeneral motor is showing strong bullish momentum as long as the two crucial support zone is well supported.
$GM$GM Nice move today as planned! Broke through the 55.29 level and rejected where expected. A bounce off .236/.382 here is what i'm looking for before a wave 5 breakout!
