The Greedy Trader Weekly Analysis
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Uptrend Support
Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for uptrend support trend trading. Technical analysis of stock trend and uptrend support trend trading.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,uptrend support

General Motors (GM)

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Summary:
Weekly :Broken trend resistance lineBroken trend resistance lineLane's Stochastic oversoldWilliams' Percentage Range is strongly oversold
Daily :The price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was a second consecutive positive week for the General Motors (GM). During the week, the GM gained 0.63 points, or 1.93%, and closed at 33.29 on Friday, May 26, 2023. It was the best weekly gain since March 31, 2023. Weekly volume was -13% below average.

Long-term trend: [See GM long-term trend chart]
A long-term downtrend had started on February 16, 2023 at 43.63 and reached 31.50 on May 16, 2023. GM lost 12.13 points, or 27.80%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (31.02) 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 downtrend had started on April 3, 2023 at 36.82 and reached 31.50 on May 16, 2023. GM lost 5.32 points, or 14.45%, in 6 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (31.44) 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 medium-term trend.

Weekly Technical Indicators: [See GM weekly technical indicators chart]
Weekly 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 weekly Lane's Stochastic or strongly oversold 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 below its signal line since March 17, 2023. This is an indication that the medium-term trend is down. 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 May 16, 2023 at 31.50 and reached 33.84 on May 23, 2023. GM gained -2.34 points, or -7.43%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See GM daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 16, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (6.73%) is close to one year low (7.42%). It is 62.79% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.24
Williams' Percentage Range (W%R) 59.70
Lane's Stochastic (%D-Slow) 57.17
Greed/Fear Indicator (GFI) 48.23
Moving Average Converg./Diverg. (MACD) -0.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.91
Williams' Percentage Range (W%R) 90.80
Strong Oversold
Lane's Stochastic (%D-Slow) 15.85
Oversold
Greed/Fear Indicator (GFI) 22.28
Moving Average Converg./Diverg. (MACD) -0.97
Trading Signals
Description Value Chart
Upper Bollinger Band 34.11
50 Day Moving Average 33.80
Price 33.29
Daily Stochastic Crossing 32.91
20 Day Moving Average 32.78
Monthly Trendline Resistance 32.65
Weekly Stochastic Crossing 32.45
Lower Bollinger Band 31.85
Parabolic System 31.61
Monthly Trendline Support 31.44
Quarterly Trendline Support 31.02
Quarterly Trendline Resistance 28.48
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Automobile Manufacturers 20
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 32.01
Low Date 05/24/2023
High 33.49
High Date 05/26/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.50
Low Date 05/16/2023
High 33.84
High Date 05/23/2023
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 32.65
Support 31.44
High 36.82
High Date 04/03/2023
Low 31.50
Low Date 05/16/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 28.48
Support 31.02
High 43.63
High Date 02/16/2023
Low 31.50
Low Date 05/16/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.21
High Date 01/05/2022
Low 30.33
Low Date 07/05/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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