GM EarningsI think it heads towards a double bottom, but in any case it lost a support line.
This is one of the reasons why I'm not very bullish today despite the market being oversold.
GMD trade ideas
General Motors - GM Technical and Fundamental AnalysisNYSE:GM
It might jump up, just wait for the right signal. Perhaps high volumes.
Stochastic is in oversold.(it does not say really a lot - it can keep being in oversold)
Based on the slope of the downtrend (retracement - too fast compared to the previous rally), I would be tented to follow Technical Analysis.
Fundamental News:
GM will report results for the first quarter before the market opens on Wednesday, May 6.
Expectation: $0.47 a share profit on sales of $32.09 billion - but not as good as the last year (I can guess)
The moves announced Monday follow other cash-saving measures taken at the beginning of April, when the company deferred 20% of salaried workers’ pay, cut top executive compensation and put 6,500 employees on leave.
GM CoilingGiant 6 month pennant, into next week's calls, though as usual I'll probably just flip then tomorrow, lol.
GM options are cheap with good liquidity and small spread between bid and ask. I mentioned this in my ES1 thread, but here's the chart.
When this pattern eventually breaks, the move is gonna be HUGE!
GM to Long, in Uptrend , demand zone Condition:
1. Downtrend line was broken by breakaway Gap (G1).
Start a new trend.
2. G2: runaway Gap shows 40-50% of the trend.
G2 Filled.
3. Demand zone conformed.
Entry near demand Zone: below 22 ;
Or buy after down trend line break;
or buy at tomorrow open if Gap up (Gap3) ;
Stop: 20;
Target1: 26; risk/reward=1:2
Target2: 31; risk/reward=1:4
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
General Motors HarmonicPlease like this if you agree.
Possible announcement of General Motors developing ventilators for shortages in the US. What appears to be a bearish crab formation is forming in its early stages. There is potential for this to fail, but its right at the point of where it hangs and shoots up. The gains could be realized at minimum 18%. Crab formations can reverse despite being bearish and continue much larger and stronger moves upward, but remain cautious as it completes.
BTC just did this not too long ago...and continued upward...
(This is not financial advice)...
GM Bottom IndicatorLooking at various stocks to see if we've hit bottom yet. Last week I posted MU, this week it's GM.
We're close, but doesn't look like we're there yet. Note tha in a recession GM could break through the previous support. The company tends to lose money if sales fall because they have a lot of fixed costs.
BTW, look at the indicators.... terribly oversold but doesn't seem to matter.
Help me look for new stocks to analyzeI'm running out of ideas, now that SQ and AAPL appear played out. Also, GM isn't moving as much as it used to.
Ideally, I'm looking for stocks like GM, UAA, and SQ, with good options liquidity, low premium, and small spread between bid and ask. It also has to make big moves, otherwise there's no point in buying options.
If you have any ideas, post them here or message me please.
