General Motors (GM)
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|It was the negative week for the General Motors (GM). During the week, the GM dropped -1.36 points, or -5.18%, and closed at 24.89 on Friday, July 31, 2020. Weekly volume was 18% above average. |
Long-term trend: [See GM long-term trend chart]
A long-term downtrend had started on August 1, 2019 at 41.90 and reached 14.33 on March 18, 2020. GM lost 27.57 points, or 65.80%, in 32 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See GM medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 14.33 and reached 31.66 on June 8, 2020. GM gained -17.33 points, or -120.94%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (24.74) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See GM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See GM short-term trend chart]
A short-term uptrend had started on July 9, 2020 at 23.33 and reached 27.33 on July 23, 2020. GM gained -4.00 points, or -17.15%, in 14 days. Price is near the Fibonacci 61.8% retracement level.
Daily Technical Indicators: [See GM daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.