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.
4GM trade ideas
$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!
GM to break all time high$GM - Bounced well at 55ema & daily pivot, looking to break ATH 57 level, MCD crossover to bullish, with this market fluctuation I am entering small lotto play - 3/19 57C for 1, stop loss if dropped below 52
GM - Next Leg Up: Great OTM options flow, Relative StrengthAmazing relative strength these past weeks.
Great 04/16 OTM options flow towards $60. pbs.twimg.com
Equity block as well. pbs.twimg.com
Still flagging on the daily.
Looking like we'll see the next leg up soon.
$GM - General Motors - Falling Wedge BreakoutLooking at the falling wedge break and key resistance area breaks for a move past $57.
$GM - I am long, but possible bearish RSI divergenceWatch out for this.
Though I am long because of declining volume after accumulation. On watch.
GM LongGM 1-4 Week Horizon
Price seems to be consolidating to a flag pattern, could mean price may go on either direction.
Bullish signs;
Price is currently at the 21ema area and seems to be holding. This area also happens to be 61.8% Fibonacci. Stochastics are at oversold level, all good signs for bulls.
Bearish signs;
There seems to be a strong resistance at 57 area where price got rejected twice. If you look at MACD and price, X & Z on price is the same level while on the MACD, Z lines and histogram shows lower level than X (this could mean lower momentum on the last pivot high).
It might still make sense to enter at the buy zone but key an eye on price bounce or break key level 57 (still a good +9%, maybe trim position at this area) Cut loss just below 21EMA at 50.59
