Looks to me like it's headed back to support, will probably try to play the bounce then.
At this point, every GM trader is probably thinking the same thing so it'll probably get there quickly. Not sure when, but I would short any big bounces, no position right now, not gonna chase this big drop
At this point, every GM trader is probably thinking the same thing so it'll probably get there quickly. Not sure when, but I would short any big bounces, no position right now, not gonna chase this big drop
Comment:
Keep an eye on this one or set an alert, as quickly as it's dropping lately, its should drop below $31 by next week.
Comment:
The way this is looking, I'm expecting another bear flag tomorrow and possibly Monday. So probably won;t hit my $30.6 target until next week
Order cancelled:
Not really cancelled but wanted to let everyone know that I'm changing my buy point. GM typically drops $2 on a big down day, that puts it below $30.
If the market tanks Monday, I might wait until Tuesday to buy. We'll see. But I can't recommend buying at $30.6 at this point. Watch the market, DO NOT put in a buy limit order.
If the market tanks Monday, I might wait until Tuesday to buy. We'll see. But I can't recommend buying at $30.6 at this point. Watch the market, DO NOT put in a buy limit order.