Fords jump on earnings last week has increased speculation that GM may follow in its footsteps. Looking at the long term chart the trend would be higher but faces strong resistance at $41.50 - $42 , until that level breaks on considerable volume we are not convinced. Ford took some radical moves over the last year to cut costs, reduce inventory and product ranges...
The pennant was obviously a reversal pattern at this point, got a back test this morning and formed somewhat of an inverted H&S. In for some calls for a short term trade (probably until Monday).
I'm bearish but money flows into the market in January, just like last year. More so because they took the money out last year, so the money has to go somewhere.......
Played GM calls for the gap close today, but I'm guessing this forms another pennant then drops like it did last Feb. Who really expects autos to do well when everyone's calling for a recession?
Buying puts if it throws a reversal pattern Friday or Monday. Guessing the computerz will jack the futures up tonight after losing money today. You know it's a short...
The auto industry has been clobbered due to Trade Wars.
China just released some news about reducing tarrifs on US cars going into China.
GM has a huge portion of its market in China, so now is the time to long it.
Technially, this asset this key fib levels on the way down, and bounced where it should have.
Now the bounce has retraced to a perfect spot that...
Trump tweeted today “Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including....”
Nit good for GM
I think that looking at stocks that have been forgotten can often uncover substantial upside with attractive risk-to-reward ratios. General Motors currently trades at a 22-month support level after having been sold off from $44 to $33. You can also play the upside with minimal layout using call options.
Buy at current levels : $34.38
GM Price Trending Down 9 Days in a Row. Since this spiral started on 28-Aug-2018, the stock has dropped -10.1% in total. This is the longest downward trend in the last year for GM. I look at Bear Put and Call spreads to take advantage of this trend. See full analysis in my video.