General Motors Company stock price fell more than -8.91% Wednesday closing at $52.72StockInvest.us, 1 month ago
The General Motors Company stock price fell by -8.91% on the last day (Wednesday, 4th Aug 2021) from $57.88 to $52.72. During the day the stock fluctuated 6.21% from a day low at $52.21 to a day high of $55.45. The price has been going up and down for this period, and there has been a -7.59% loss for the last 2 weeks. Volume has increased on the last day by 55 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 67 million shares were bought and sold for approximately $3.54 billion.
On July 16, 2021 "Bank of America" gave "$80.00 - $90.00" rating for GM. The price target was changed from $56.12 to 1.5%.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $52.21 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -2.61% during the next 3 months and, with a 90% probability hold a price between $50.85 and $61.21 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The General Motors Company stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $56.03 and $57.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 08, 2021, and so far it has fallen -17.52%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.24 (6.21%) between high and low. For the last week, the stock has had a daily average volatility of 3.07%.
General Motors Company holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.Check full General Motors Company forecast and analysis here.