GENERAL MOTORS CO (NYSE:GM) Technical Analysis observations.

We've identified GENERAL MOTORS CO (NYSE:GM) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:GM for further developments.

Zooming in on the technicals.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall GM gets a technical rating of 9 out of 10. Both in the recent history as in the last year, GM has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that GM is one of the better performing stocks in the market, outperforming 89% of all stocks.
• GM is part of the Automobiles industry. There are 40 other stocks in this industry. GM outperforms 89% of them.
• GM is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so GM is performing more or less in line with the market.

Check the latest full technical report of GM for a complete technical analysis.

How does the Setup look for NYSE:GM

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:GM scores a 8 out of 10:

Besides having an excellent technical rating, GM also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 43.14, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.