2waytrading
Long

Time to Buy $GM?

NYSE:GM   GENERAL MTRS CO
115 1 3
Probably yes, but the chart still warns a possible leg down from here which may be even an opportunity to buy. When it comes trading, its all about your time horizon or time-frame for the trade. If u want to quick in/out trades you just need to have set of indicators, u will have a good chance to win most of the time. Here, the recall had strong effects on the company's bottom line as we have seen last week's earning. With all the drama surrounding the recalls and how long it will continue, the company still managed a strong sales, significant growth in China, strong balance sheet , positive free cash flow plus a great dividend. With these in mind, price hovering technically above May low n above recommended 25% projected bounce, we still another retest of July high. Stay tuned to see more like this and follow us.
Daily stochastics deep oversold, still want to move with higher time frame momentum swings-- few notes
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