by Gary S. Morrow | May 21, 2019 | Chart of the Day, Charts
GM has stabilized near major support. The stock has been consolidating just above its 200 day moving average since last Monday. Just below this key level is the multi week March lows. We consider GM a low risk buy at current levels. On the downside, a close below...
by Gary S. Morrow | Mar 20, 2019 | Chart of the Day, Charts
GM is heading for its lowest close since the powerful guidance inspired January 11th breakout. The huge March 4th spike high is looking very ominous. There is now a huge key downside weekly reversal in place as a result. A close below $36.60 will leave all of the...
by Gary S. Morrow | Feb 7, 2019 | Chart of the Day, Charts
GM’s powerful earnings driven breakout yesterday appears to have failed. The stock blew through a key overhead trendline(linked July/Dec/Jan highs) on Wednesday with a huge upside gap. By the close it appeared the breakout had lost a bit of steam. Today the...
by Gary S. Morrow | Jan 14, 2019 | Chart of the Day, Charts
General Motors ended last week with a powerful surge. The stock closed Friday with a 7% gain with the help of extremely heavy volume. This news driven breakout took out heavy resistance while leaving layers of support behind. We believe GM is set up well for more...
by Gary S. Morrow | Nov 26, 2018 | Chart of the Day, Charts
$GM begins the week with a nice gain(+1.8%). Held its earnings inspired breakout gap quite nicely at this month’s low. Now up 7.5% from the 11/15 low. Looks headed for heavy resistance near the declining 200D moving average. Sticking with longs.
