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

By James Quinn

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 $35.58 and $35.79 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.

General Motors C (NYSE:GM) has potential upside of 35.6% based on a current price of $35.60 and analysts' consensus price target of $48.26. The stock should find initial resistance at its 50-day moving average (MA) of $36.68 and further resistance at its 200-day MA of $37.77.

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 services. General Motors provides its vehicles and services worldwide.

In the past 52 weeks, General Motors C share prices have been bracketed by a low of $31.46 and a high of $41.90 and are now at $35.60, 13% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

SmarTrend is monitoring the recent change of momentum in General Motors C. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of General Motors C in search of a potential trend change.

Keywords: bearish inside day candle general motors c

Ticker(s): GM