GMInfo only, not advice.
Nice pause during the uptrend and consolidating well.
Recent news about them not working with Nikola will be good news in the immediate term as Nikola continue to drop.
Stochastic RSI is low and price is hitting higher lows.
Expect a break in the next week or two.
3 x target levels based on fib extensions at 0.618, 1.0 and 1.618
Trade ideas
long term trade so looking over financials for GM they have a 9.1 Billion in open cash flow for operations. sales came in bigger than last year so i do expect there to be a small drop im going to do a long position at around $37 to $40 and then exit at around $50 per share so i did use the fib retracement to show where i think itll go short term but over all i think it will go long
GM: Ascending Triangle, confirmedAscending Triangle, Confirmed
Pros:
Descending volume during formation
Peak volume at break out
PPS above 50MA and 200MA
250RSI above 50
RS ascending and above 0
ATR ascending, more volatility
R/R ratio above 16
Cons:
200MA descending
Targets:
PT1 = 38.50$, filled
PT2 = 41.76$, filled
PT3 = 44.92$
PT4 = 50.53$
GM earnings surprise beatGeneral Motors (GM) reported 3rd Quarter September 2020 earnings of $2.83 per share on revenue of $35.5 billion. The consensus earnings estimate was $1.47 per share on revenue of $38.0 billion. Do your own due diligence, your risk is 100% your responsibility. Good luck and happy trading friends...
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7pt Trading compass:
Price action
Volume average
Trend momentum
Current events
Revenue & Earnings
Debt / Cash
Book value
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FOMO
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Emotions & Opinions
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$GM the battle of faith$GM has always been a good indicator of $DJIA and the way it could move in the future. Last week swing high in this stock is highly unusual taking into an account indebtness and GDP fall and consumers uncertainty invoked by COVID-19. 38-38.4 is that magic line this stock needs to cross above or te be rejected from. It will be good for trading.
GM Finished Strong Above Recent ResistanceGM had a large amount of volume in an uptrend during the overall market selloff on Friday. If it holds on Monday we could see a breakthrough to new recent highs.
Check the minute chart and you'll see a ton of volume right at close while the market was doing the opposite.






















