Select Page

GM is trading at new rally highs as the week comes to an end.  At mid day shares are up just over 2% as the stock heads for its best weekly close since 2/21.  The huge February/March breakdown began in the middle of the following week.  We expect more upside for GM in the near term.  With solid footing underneath at the September lows a retest of the 2020 high($37.40) looks likely.  We are long GM in some managed accounts.  We consider GM a fairly low risk buy at current levels.  A close below $30.90(this week’s low) would be a clear warning sign that today’s breakout move has failed.

Positive comments from B of A: