1GM trade ideas
Uptrend channel for GMNot currently in this stock but it seems like a good bullish chart. Everything looks bullish MACD CCI RSI is high overbought. If i do decide to get in i will wait for RSI to down a bit.
GM Finished Strong Above Recent ResistanceGM had a large amount of volume in an uptrend during the overall market selloff on Friday. If it holds on Monday we could see a breakthrough to new recent highs.
Check the minute chart and you'll see a ton of volume right at close while the market was doing the opposite.
Possible Nice Entry For GM Soon?I am very interested in jumping into this trade if I can get it at the right Price. I will be monitoring this one, as on the weekly time frame the 20MA has acted as support in the past. We had a fairly steep decline in GM recently, and I think an entry near the Weekly 20MA could potentially make this a nice risk vs reward trade. It appears the price has not yet hit the primary bull trend line since March. I will be waiting Patiently to see what is in store for this one.
GM Long - Possible Bounce off 50 and 200 MAMight be an overreaction after the NKLA news. Appears to be bouncing and reversing on the daily chart after bouncing off the 50 and 200 MA. Also a golden cross forming with the 50 MA crossing over the 200 MA.
On the flip side, the reaction from NKLA could continue if more news comes out so maybe wait for a confirmation.
Short Term Bear Long Term BullLooks like the air is being sucked out of the GM run but, a break above 33.50 can be bulls are back. Lots going for the bears but I think it is just enough to bring GM back to support line 1. Let me know your thoughts
$GM Fades on Fed, but Bolsters EV ProfileGM shares faltered at a potential breakout level around $33. But this one could be interesting. Who's the next big EV play? General Motors. After its Nikola marketing partnership, the company announced a plan to ramp up EV production. The stock faded with the market on the Fed Sell-the-News action. A move back above $33 could set up a flush above $35.
Symmetrical TriangleConsistant break of a S Triangle with a long entry at 28.7
NV is high
Short interest low
Maybe she will do it this time!
Possible T2: 63.5 70
Not a recommendation
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GMGM breakout from resistance at price 30.87.
Making pullback and bounce at price 30.87 which test the new support
Possible GMC Short on H1 TFThe E.Wave could look something like this.
If this General Motors Co. stock breaks to form correction wave A, we should position ourselves at correction wave B targeting correction wave C. Let's see how it plays out.
Good luck!
GMC LongLooking to buy this when market opens. Will look for an entry signal before setting the dogs on it first, though.
A second scenario(will post shortly) exist in which we have an Elliot Wave whose impulse wave 5 has achieved 0.618, broke through and came back below it. If the first scenario fails, we'll catch the correction at correction wave B.
Happy trading.
Does GM have the strength to break out?Has GM ran out of steam a little bit at a critical point?
Both the Fibonacci retracement (from the Feb - March crash) and the Fibonacci expansion run in June have a confirmed level almost on top of each other at $27.65 & $27.66, GM was able to break through but then got rejected at an expected $29 level as this is makes up a resistance triangle from February to June high and also a Fib level ($28.95) from the June expansion. The GM chart came to my attention as GM got flagged yesterday in a scan on unusual high volume call activity for " 3156(contracts) GM August 21 $28.50 Calls for .50 ". It's not a huge amount of money but someone does have a fair amount of confidence that the existing Fib resistance level will be broken again and the price will run up again very soon. Looking at where we are if it does keep above the current Fib level and then break through the triangle resistance then we may have a nice little break out on our hands. My indicators show this is still bullish albeit we are in a pullback so for me I'll be watching closely over the next week odd.
I'm not a registered investment advisor so as always please do your own research before putting your money at risk.
