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Possible Bearish Inside Day Candle Pattern Detected for General Motors C (NYSE:GM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in General Motors C (NYSE:GM) based on the price action in the company's shares. Today's price range of $35.85 and $36.26 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of General Motors C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, General Motors C share prices have been bracketed by a low of $27.34 and a high of $46.76 and are now at $35.91, 31% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 0.49% higher over the past week, respectively.

General Motors C has overhead space with shares priced $35.91, or 25.7% below the average consensus analyst price target of $48.36. General Motors C shares have support at the 200-day moving average (MA) of $31.75 and additional support at the 50-day MA of $31.00.

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts. The Company offers vehicle protection, parts, accessories, maintenance, satellite radio, and automotive financing. General Motors provides its vehicles and services worldwide.

SmarTrend recommended that its subscribers protect gains by selling shares of General Motors C on February 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $41.56. Since that call, shares of General Motors C have fallen 12.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle general motors c

Ticker(s): GM