1GM trade ideas
$GM the battle of faith$GM has always been a good indicator of $DJIA and the way it could move in the future. Last week swing high in this stock is highly unusual taking into an account indebtness and GDP fall and consumers uncertainty invoked by COVID-19. 38-38.4 is that magic line this stock needs to cross above or te be rejected from. It will be good for trading.
GM on watchBreakout today with unveiling of the new EV Hummer. Like it long right away if it can hold the box then break above.
If price falls below the box I will look to go long from one of the lower targets.
GM looking for retracement as part of larger 4 wave, target 28.5EV Hummer was great catalyst to propel wave 3, now looking for a slight retrace around the 28 region. Copyright Rohan Karunaratne 2020
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
