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General Motors (GM) |
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| Summary:
| | Weekly : | | Daily :
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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.
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