8GM trade ideas
Swing Idea: GMGM has entered my buy zone, may be a bloody week so stay safe. Looking for entry at $53-$54 range.
Not finanical advice just my opinion.
GM UptrendSince the beginning of the year General Motors has started doing healthy bullish things on its chart.
We have another uptrend that is in play, and if the trend holds we can look for a retest of the $60.30 resistance level. A break and hold above that level could send us 15% to the upside to the top of the channel.
***Also, please be aware that the current market is fueled with uncertainty at the moment, so a breaking of this uptrend is very much possible. Until then, however, we assume GM remains in the trend until it doesn't.
If the trend breaks, we have our stop losses at $57.43 and the final line in the sand at $55.82.
Technical analysis update: GM (13th July 2021)GM did gap up (at the open) towards resistance when U.S. market opened on 9th July 2021. Today it held just below resistance and did not retrace its gap. RSI and Stochastics reversed to the bullish side. MACD is neutral. ADX is very low which suggests weak trend or no trend in GM. At the same time price retracement failed to occur. If retracement fails to occur in the following days then bullish case for GM is strongly bolstered (for short term). Our short term price target is 60 USD and our medium term price target is 65 USD. However, investors should pay attention to the price action in GM over the coming days as earning seasson begins and with it we may see increased volatility in the market.
Current setup:
Prior developements from 26th May 2021:
Here we stated that GM entered rectangle formation. We correctly predicted breakout above resistance and subsequently reached price target of 60 USD and 62.50 USD.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
GM Swing Idea$60 call expiration date 7-23. MACD crossover the signal line. Paraboloic SAR showing. Price sitting above the 200 MA. Lets go
GM - time to bounceDecent buying volume on the last pull back
Strong support level
Upgrades
Earnings in begin august, and GM delivered good earnings last three times.
Pre-earnings play, back to at least 65
General Motors (GM) Stability is the name of the gameThe old&good stock continues to be stable for the long term and marks a target for the third quarter of the year.
Trade safe
NYSE:GM
target is %8 in 21 days to $65 GM in a flag and the breakout target is a fib price target level
doji on the daily looking for the push higher in coming days
a lot of analysts have targets around $70
GM BULLISH - BROAD DESC WEDGE - IF SPY CAN HOLD UPAll,
I think GM is pretty bullish here already in some call options. Of course SPY crashing here / dipping may cause some issues as you can imagine. Have to wait and see. Otherwise I see this ripping once it breaks the channel back to 63-64
Bearish outlook for GM. GMWell, for the next week anyway. ABC zigzags are underway.
Fibonacci goals are in green, and invalidation is in red. We know of no more powerful tool in analyzing the markets other than NeoWave / Elliott Wave theory when correctly combined with a few tools in out belt. Make sure to remember that this is not financial advice, and we never give financial advice on this channel. It is your job to create or seek out your own. Good luck out there and be smart!
Parabolic steps on GMLooks like GM has been making Parabolic steps on to the final step and usually has a last push and target I am seeing is 67-69. after that big opportunity to short. gaps to be filled. so for now short term long.
[Trading Review] How i traded Today June 3, 2021This is how I traded Today reviewing ym winners and loss hopefully you guys are able to understand on how I trade.
GM Double top?Stock doesn;t even seem to care which way the market goes, just keeps melting up.
Picked up next week's calls as a day trade but leaving the position open even over the long weekend.
