BuffaloBill
Long

GM (Swing Trade)

BATS:GM   GENERAL MTRS CO
1094 14 3
Held major support line as well as Bollinger support, Daily and weekly stochastics oversold, Daily is coiled up tight which will give us that nice upside pop.

Taking Profits:
This is certainly a swing trade that will take a couple days to play out. Looking forward to 2-3 point move upward.
Longterm support is important level.
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BuffaloBill charttrader
4 years ago
Your right! - Well it's never breached that support level.. and if we look at today's candlestick, we have strong confirmation that it will hold. Hard to tell how quickly it will become overbought. Definitely on my watch list for next week!
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charttrader PRO BuffaloBill
4 years ago
Thank you for sharing this. Will see how it works.
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BuffaloBill charttrader
4 years ago
Anytime, Feel free to follow me. I will be posting my daily watchlists here now.
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pieromelendez
4 years ago
from march to august it has been falling slowly, does that mean the stock has higher chances of a rebound or lower chances. Thank you for the answer guys, i do like the way this chart is looking !
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BuffaloBill pieromelendez
4 years ago
Good observation, the reason it's falling has more to do with Fundamentals and that Investors are still scared because of the previous GM Bailout. If we look back, we can see it has proven to hold those support levels. As for your question, it's different for each stock really (no one stock is the same). Just put your stops under support, and ride it until your momentum oscillators become overbought and tell you to get out. Hope that helps - Cheers!
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Stevie_B
4 years ago
I agree with your technical analysis and I would suggest the slow down in China contributed to the recent pull back.
Reply
BuffaloBill Stevie_B
4 years ago
Thanks for the feedback!
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