General Motors Company Stock Forecast

General Motors Company stock price down 0.92% on Friday
(Updated on May 03, 2024)

8GM.F Signals & Forecast

The General Motors Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 42.17€. On a fall, the stock will find some support from the long-term average at approximately 40.45€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.01%. Further fall is indicated until a new bottom pivot has been found. General Motors Company gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for General Motors Company stock

General Motors Company finds support from accumulated volume at 39.95€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 0.520€ (1.25%) between high and low. For the last week, the stock has had daily average volatility of 1.39%.

Our recommended stop-loss: 39.96€ (-3.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (8GM.F) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect General Motors Company to open at 41.72€, and during the day (based on 14 day Average True Range), to move between 40.83€ and 42.30€, which gives a possible trading interval of +/-0.734€ (+/-1.77%) up or down from last closing price. If General Motors Company takes out the full calculated possible swing range there will be an estimated 3.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 41.92€ (0.85%) than the support at 39.95€ (3.90%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is General Motors Company stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for General Motors Company stock to perform well in the short-term.

Current score: 1.563 Buy Candidate Unchanged

Predicted Opening Price for General Motors Company of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.