By | August 27, 2017
General Motors Stock: Price Action Trading Strategy

Table of Contents

                                  General Motors Stock: Price Action Trading Strategy. The Stock exhibits good bullish price action trading patterns.If the break out occurs surely stock will sky rocket to new highs.

General Motors Stock:

                            General Motors Companycommonly known as (NYSE: GM), is an American Multinational Corporation headquartered in Detroit, Michigan, that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services.

General Motors Fundamental Details
Name Value
52 Week High/Low Values $38.55/ $ 30.13
Market Cap $ 52,254,683,030
P/E Ratio 6.20
Forward P/E Ratio(1yr) 5.80
EPS $5.74
Current Div Yield 4.28%

General Motors Stock: Price Action Trading Strategy:

                                          General Motors Stock is trading at $ 35.60. Kelley Blue Book expects U.S. auto sales to increase 1.5% in August to 1.53M units. General Motors will release its Auto sales number next week. It will be the major trigger for the stock to go up. Forecast by automaker – General Motors (NYSE: GM) Sales to increase +6.1% to 272K.

                                            The stocks Beta value is 0.74 compared to the major indices the value is low. So the volatility in the stock will be less. If the sales by the company beat the auto maker forecast then the stock may sky rocket to the highs. The stock will fall if the sales miss the estimates.

General Motors Stock: Price Action Trading Strategy

                       As the stock is consolidating for a long time. The stock broke the big triangle. The height of the triangle is almost 20 points. The stock already breaks the triangle and waits for the trigger to move up. May the auto sales report be the trigger for the General Motors stock.

31.92 is the major support for the General Motors Stock. And 36.63 and 38.55 are the major resistance points for the stock. The General Motors stock will bounce till 38.55 if the support holds. If it doesn’t hold the support then the stock may fall. 29.82 is the next major support of the General Motors stock breaks the support.

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