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Archive
- 12/13/2024 -
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General Motors (GM) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the General Motors (GM). During the week, the GM dropped -0.88 points, or -1.65%, and closed at 52.53 on Friday, December 13, 2024. Weekly volume was -36% below average.
GM is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See GM long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 67.21 and reached 26.30 on November 10, 2023. GM lost 40.91 points, or 60.87%, in 96 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (23.07) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GM medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 38.96 and reached 61.24 on November 25, 2024. GM gained -22.28 points, or -57.19%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (56.09) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. GM may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support 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 October 18, 2024. 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 December 11, 2024 at 51.30 and reached 52.82 on December 13, 2024. GM gained -1.52 points, or -2.96%, in 2 days. The price is now at the 19.08% retracement level.
 Daily Technical Indicators: [See GM daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since November 25, 2024.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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