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GM trade ideas

$GM General Motors $55.00 Short Term Breakout target Todays announcement regarding the new commercial EV certainly gave the stock a push to a ATH, which is continuing in the After-hours. The stock posted its first closing since Oct 2017 but however still remains within the upper trendline resistance. Tomorrow we will look for a break above $50.00 for a possible add. The first major Fibonacci target (blue) is $55.58, while teh local fib expansions levels must also be considered (yellow) but it is wise to expect a back-test of old resistance before advancing .
NYSE:GMLong
by Bullishcharts
General Motors Pulls BackGeneral Motors has been in the fast lane since the fourth quarter began. It’s now having its steepest pullback of the rally, offering momentum investors a potential opportunity. The first feature on GM’s chart is yesterday’s hammer candlestick. Sellers tried to push the shares below $41 but weren’t able to keep it there. Second, that $41 level is potentially important because it’s near the daily closing highs in July 2019. Next, GM’s stochastic oscillator recently fell to its lowest level since August 2019. That may suggest a deeply oversold condition. The automaker’s fundamentals have also improved – in both the near term and longer term. In the near-term, GM has gotten a huge margin boost from SUVs and pickups. Last quarter, for instance, revenue barely beat estimates but profits were almost double consensus. Over the longer term, CEO Mary Barra is pushing GM toward electric vehicles with the development of its Ultium drivetrain. That could lift valuations because GM trades for less than 1 times revenue. In comparison, Tesla trades for more than 20 times revenue. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:GMLong
by TradeStation
GM earnings Beat estimatesGeneral Motors posted stronger-than-expected earnings in the third quarter, there is a positive reversal on RSI ( Vertical doted lines) indicating that stock might reach 38.29$ as primary target(pre market (36.6$)) coinciding with resistance level ( red horizontal line). On another note, the recent trend is up ( black doted line), and a lot of news are circulating about heavy investments made in electric vehicles development. No position yet but keeping an eye for that 38.29$ level ... Things could change drastically for the battered US cars manufacturer.
NYSE:GM
by Eliarich