General Motors Could Be AcceleratingGeneral Motors has pushed higher amid low volatility, and some traders may think the automaker is starting to accelerate.
The first pattern on today’s chart is the series of higher lows since mid-August. Prices mostly remained below $59 until last week, creating an ascending triangle. They now seem to be escaping that potentially bullish continuation pattern.
Second, GM ended Thursday at its highest daily closing price since early 2022.
Third, Bollinger Band Width recently fell to its lowest reading since July 2017. Will that price compression give way to expansion?
Next, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in July and has remained there since. That could reflect a more positive long-term uptrend.
Finally, the 8-day exponential moving average (EMA) has remained above the 21-day EMA since late June. That may be consistent with a short-term uptrend.
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