GM breaking through supportVery bearish day today on GM. Looking for this stock to come back up a little bit before driving down to the next support.
GM trade ideas
$Gm Can GM follow Fords leap higher?. Fords jump on earnings last week has increased speculation that GM may follow in its footsteps. Looking at the long term chart the trend would be higher but faces strong resistance at $41.50 - $42 , until that level breaks on considerable volume we are not convinced. Ford took some radical moves over the last year to cut costs, reduce inventory and product ranges that were low margin. GM however is trying to be all things to all men, this may be critical on the earnings report and effect profit margins. Automotive is going to face shrinkage in the decades to come and innovation will be the winner long term, it is a very difficult sector to invest in with conviction.
$GM is reaching the rounded number resistance $GM reached and is being rejected by the strong rounded number resistance $40 which is aligned with the triangle top. Look for the downside reversal from here.
GM Short Term Bullish ~ Long Term BearishIf GM continues to respect this downward channel, we should expect the C leg of the ABC impulse before a consequent move downward. 3
GM Inverted H&SThe pennant was obviously a reversal pattern at this point, got a back test this morning and formed somewhat of an inverted H&S. In for some calls for a short term trade (probably until Monday).
I'm bearish but money flows into the market in January, just like last year. More so because they took the money out last year, so the money has to go somewhere.... which is right back into the market.
In any case, GM options have cheap premiums and good liquidity.
GM PennantFormed a pennant as expected, I'm bearish on this pennant, but it can break upwards if China makes a deal next week.
GM Forming Another Pennant?Played GM calls for the gap close today, but I'm guessing this forms another pennant then drops like it did last Feb. Who really expects autos to do well when everyone's calling for a recession?
Buying puts if it throws a reversal pattern Friday or Monday. Guessing the computerz will jack the futures up tonight after losing money today. You know it's a short squeeze when crap like MNK goes up.
SPY target is $256 so it'll take a couple of days to get there.
GM long idea: General Motors a buy at 33 look for 42The auto industry has been clobbered due to Trade Wars.
China just released some news about reducing tarrifs on US cars going into China.
GM has a huge portion of its market in China, so now is the time to long it.
Technially, this asset this key fib levels on the way down, and bounced where it should have.
Now the bounce has retraced to a perfect spot that should serve as support
GM , Cuves Solid Orange is the Sci Phi World . . .
Dashed Grey is more of the same . . .
Solid Green would be nice. . .
I still want Ultralight Autonomous Electric VETOL. for all !
That will MAGas GM!
General Motors reversal zone #tradingTrump tweeted today “Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including....”
Nit good for GM
GM BULLISH - After Good NewsAs we are publishing this idea, GM pre-market is at 35.01. If GM can break past 35.20 downward trend line, we are looking to go long.
General Motors (Buy/Long) I think that looking at stocks that have been forgotten can often uncover substantial upside with attractive risk-to-reward ratios. General Motors currently trades at a 22-month support level after having been sold off from $44 to $33. You can also play the upside with minimal layout using call options.
Buy at current levels : $34.38
Stop-loss: $32.80
Take Profit Target: $38.00
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GM Price Trending Down 9 Days in a RowGM Price Trending Down 9 Days in a Row. Since this spiral started on 28-Aug-2018, the stock has dropped -10.1% in total. This is the longest downward trend in the last year for GM. I look at Bear Put and Call spreads to take advantage of this trend. See full analysis in my video.
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GM 2618 and demand zone long opportunityNo matter how hard this company had tried, how many good news it had, how good the stock market is, and how charming it is for value investors,
GM literally did nothing on the last 2 years' bull market.
As TSLA became more and more controversial, car investors may also have a look on this super low-PE stock.
Indeed, it had terrible relative weakness than its peers based on the stock price performance,
but it had solid earnings quarter by quarter and a very fair pricing on this bull market,
I believe it still can play as a defensive role on the portfolio!
It had a exhaustion gap around 38-39 , so I would more like to make use of the recent pullback to long this 2618.
Let's see how it goes!
GM: Breakdown from long-term wedge GM is breaking down from a massive long term wedge which bode ill for the stock. In the immediate time horizon, would expect GM to shoot for a downside ABCD completion at $32.40, -8%. Would reassess at that point for any bounce/retest of the wedge support. It is amazing to note how much US auto sales have declined from 12 months ago when it peaked at 18.5mn SAAR. As of end Aug, US car sales stands at 16.6mn SAAR. Throw in some cost increase from the new NAFTA bill (requiring workers to be paid $16/hr) and perhaps some Chinese boycott of GM/Buick to thank Trump for all the tariff love. Lots of reasons to hate US auto now.
P.S. If you think this is a pure GM play, you are wrong. F is stuck in a perpetual death spiral with immediate ABCD completion target of c.$8.70, c.-8%.
GM Testing SupportsShares of GM are looking interesting right here, right now.
Fundamentally, shares are cheap at 5.8x forward estimates. They also sport a 4.3% dividend that looks safe for the foreseeable future.
The technical setup is what has me buying. Shares are testing a confluence of supports: an upward sloping trend line going back several years, previously held support at about $35, and the 200-week moving average.
Much like Ford (F), this looks like a good holding to sell calls against to boost income while you wait for the next cycle to begin.
I'm starting a small position today and will be adding on weakness. A stop loss will be about 10% below, as I intend on this being a longer-term position and want to give it room.
