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Downtrend Broken Resist.Archive
- 11/8/2024 -
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General Motors (GM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the General Motors (GM). During the week, the GM gained 4.62 points, or 9.07%, and closed at 55.58 on Friday, November 8, 2024. Weekly volume was -20% below average.
 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 (23.35) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GM may retest the broken resistance line. It is considered to be a support 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 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 56.08 on November 8, 2024. GM gained -17.12 points, or -43.94%, in 13 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See GM weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 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 October 31, 2024 at 50.74 and reached 56.08 on November 8, 2024. GM gained -5.34 points, or -10.52%, in 8 days. The price is now at the 9.36% retracement level.
 Daily Technical Indicators: [See GM daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since November 4, 2024. This is an indication that the short-term trend is up.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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