$GM - weekly forming double top, puts < 47$GM - weekly forming double top, puts < 47
- At critical support level
- Weekly formed double top
- break below support line for puts
GM trade ideas
GM longHey folks, happy Monday! Hope you are all doing well!
GM has reached areas of strong support and the indicators are showing that it has bottomed and is oversold.
I personally think that this is a good time to enter a trade with low risk and high return.
WATCHING $GM for entry at 46.03WATCHING $GM for entry at 46.03
GM is looking like it’s getting close to the entry (start position) target
Could be a good swing setup…
And for options, all 3 targets would be a great place to sell puts -
Just chose dates wisely.
Happy Valentine’s Day & GL
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
Sale of cars won't go up during inflationI like the short setup now, because if there is a breakout, it will be magnificent.
I picked GM mainly due to fundamental reasons. If price of oil is too high, people won't get a car when they can't afford a fuel. In the long-term, GM will lose market share to prominent electrict vehicles manufacturers. This switch to electrict cars is another good reason. I expect people to buy used cars if they go for petrol based ones.
$GM - Failed single bust? Rectangle now?In my previous chart, I thought single bust pattern was playing out up until it was rejected at the trend line that was caused by reaction to ER and supply chain concerns and analysts down grade. Recently by Ukraine invasion by Russia. Now it looks like it's going to form a rectangle. I would watch $47 area for support. If $47 support fails, bearish case plays out and it could head to $42.83 with worse case $37 to $35 area.
If $47 holds and break above $54, bullish case could play out and price could head back to $62.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
Watching $GM for entry at 46.03Watching $GM for entry at 46.03
Alert set for 47
46.03 entry
Add at 40
Double at 35.19
That’s the plan…
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
strategy for GM friday 02/04/2021 GM: sell zone ( 55.50 ) ( 55.00 ) entry to buy above ( 53.50 ) if so we will take profits next to the sell zone, and if there is a break in the sell zone next to continuity it is ( 56.00 )
bearish entry: must be below (52.50) bearish trend of the previous day, positive daily chart closing candle (green) in case of opening with a gap we would have a bearish gap and go, it also has an inside bar
GM MOTORSPossible re-accumulation for a move slightly higher.
Looking for a reaction on both levels here before going long.
Mark Minervini's Style Analysisbought on 11th Jan at this point:
might:
EP: $43.5
SL: $42.32 (2.71%)
conditions:
1)trend in place (small EMA above big EMA)
2) good volumes
3) ATR declining
4) ~12% correction
5) price very close to EMA21 & EMA50
6) price acting 2weeks: 1st week there's shakeout,
but following day buyer sending back in the EMA21 area
(bullish sign = tennis ball action)
$GM - potential single bust ascending triangle playPrice broke down from ascending triangle to approximately 10% below the lower trend line. The price retested previous low today without further breaking down. This is encouraging, as this could be seen as buyers are willing to come in as soon as the price visit below $50.
Since the price did not break down further than 10% from the lower trend line, we can expect the price to travel back into the triangle and head towards $64 area with $58.28 acting as a tough resistance area. Single bust pattern states that after breaking down from the triangle the price should not travel more than %10 before reversing and eventually travel back into the triangle for a break out.
However, if we break below $49, we can expect the price to reach $47 before finding any support.
Target 1 - $58.28
Target 2 - $64
Risk - Breaking down to $47
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
GM out of gas. GMWe have been following this one for a while suspecting a giant zigzag or flat. Our expectation has been confirmed. And this is why we use Elliott. It is the only system known to us that is truly predictive of the market. Other system, in our opinion, are practical gambles situationally. This is not to mention that combinations involving Elliott, like the ones we use, are significantly more profitable than any other system we have tried. It is a difficult system to master, and we have met only a handful of true masters of Elliott.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
$GM Key Levels, Analysis & Targets $GM Key Levels, Analysis & Targets
Well Dang, target 1 hit and I guess I should have posted this yesterday when I was charting it… so Target 1 hit already LOL…
Target 2 is on my radar… no position at this time…
GL, y’all…
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
GM movementGM Closed at a key level of 61.10 (.618 Fib level, High to Low on the daily) Watching closely here as a bounce will likely lead to 61.40 then to our first major resistance level of 61.80. It tried to break this level twice on Friday and rejected both times. Also, this has been a major area of resistance last week as it touched and rejected. It did break through on Thursday which sent it to 62.4 then higher to 63.3.
GM above 61.80 taking the 1/21 64c, watch for resistance at 62.40 (Start trimming at this level)
If it makes it past 62.40 the next stop is most likely testing 63.3 . If it rejects here, I’m looking to enter puts. Don’t forget to take profits on the way up.
GM reject at 63.3 taking the 1/21 62p, watch for support at 62.4 (start trimming here)
If GM loses 60, watch for a put entry. Be careful however, it had a strong support this week of 60. Wait for confirmation before entry. Personally, I’d stay away from this play unless there was crazy strong selling pressure right at this level.
Recap:
GM above 61.80 taking 1/21 64c (trim at 62.40)
GM reject at 63.3 taking 1/21 62p (trim at 62.4)
GM below 60 taking the 1/21 58p (take profits as you see them)
$GM: Double Top and Bearish Dragon with Bearish Divergence.Over the last few weeks i have been suspicious of GM's Price Action and have been awaiting a Sign of Weakness at a Local Top. Last week it seems to made a Higher High but showed even more Weakness on the RSI and MACD along with Elevated Volume.
I believe price action is suggested to the chart that GM will come back down to test the trendline and if broken make a deep retrace to atleast test the 0.618 Fibonacci level.
$GM ev stock looking very bullish to watch 1) Last 24 months sloping support building and bouncing from it test ,
2) Ascending tri-angle building with 24th sloping support super bullish
3) Breakout is near to watch
GM can spike againTechnical based and due of increasing revenue, GM could spike up again between $66 and $67.
I expect another move down before and looking forward to the earnings on the first of February.
Anyway, earnings can change the direction again, SL should be tight.
$GM #stock #generalmotorsFor third consecutive trading day there are huge demand at days lows and made great support for now.
The stock price now has PT for first phase the red line of fibo resistance ..
I bought it again at todays lows ..
disclaimer
$GM LevelsBreakout zones:
$62.49
$62.03
Bull PTs:
$63.19
$63.83
$64.61
Bear PTs:
$61.43
$60.78
$60.07
$58.87
We update the maximum!The final phase of growth in the "oblique pitchfork" is developing. The price has tested the equilibrium channel twice. It has broken through the local maximum. Now it is confidently moving towards the upper limit of the forks. I assume that we will reach the $93 mark by mid-2022.
General Motor will reach new highs?In 2021 NYSE:GM has a long-term uptrend, with short-term sideways and downtrends.
From September 2021 until today, the stock has increased significantly, reaching new highs at the beginning of 2022; however, around the price area of 65, the stock find a resistance.
Currently, the uptrend is still healthy, especially if prices remain above the support in area 59 (gap zone).
In the following chart it is possible to analyze the movement of NYSE:GM against its reference benchmark SP:SPX .
NYSE:GM 13-period and 50-period moving average with positive inclination (positive momentum) , the shorter moving average probably will cross the longer moving average to the upside.
SP:SPX cross downside the 13-period moving average.
The Relative Strength Index is rising and the moving average has a positive slope.
Given these considerations, the NYSE:GM stock has positive momentum against the S&P 500 index.
COMPANY DESCRIPTION
NYSE:GM is one of the world's leading automotive companies. The company's brands include Chevrolet, GMC, Cadillac and Camaro. Auto sales account for over 90% of turnover, with the remainder being financial services.
General Motors is focused on traditional cars but is also positioning itself to participate in the revolution that could come from electric cars.
Mainly active in the United States, where it generates over 80% of its turnover.
CONSIDERATIONS ON THE COMPANY
General Motors closed the third quarter of 2021 with data above expectations, but in contraction due to the problem of the lack of microchips and the weak warehouse.
Revenues fell to USD 26.8 billion, while adjusted EPS fell to USD 1.5. However, management have revised the previously reported guidance upwards, expecting adjusted EBIT of USD 11.5-13.5 billion and adjusted EPS between USD 5.7 and USD 6.7, thanks above all to the agreement reached with LG Electronics .
General Motors recently announced USD 27 billion in electric car investments by 2025 (USD 7 billion more than previously planned), with the goal of launching 30 models worldwide.
Dr . Cunti Mattia, CFTe®, EFA
** WARNING **
The content of the analysis just carried out is the result of personal opinions and does not constitute a solicitation to buy or sell any financial instrument.
These views therefore do not constitute advice or a recommendation to invest or disinvest.
The analyzes are for informational purposes only, and do not constitute personalized advice, as the writer does not know the personal characteristics of any of the readers, especially income flows, ability to bear losses, equity consistency.
