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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in General Motors C (NYSE:GM) based on the price action in the company's shares. Yesterday's price range of $34.93 and $35.50 is within the prior day'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. Traders and investors interested in shares of General Motors C may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

General Motors C share prices have moved between a 52-week high of $41.90 and a 52-week low of $31.46 and closed yesterday at 12% above that low price at $35.33 per share. The 200-day and 50-day moving averages have moved 0.23% lower and 0.99% lower over the past week, respectively.

Potential upside of 36.6% exists for General Motors C, based on a current level of $35.33 and analysts' average consensus price target of $48.26. The stock should find initial resistance at its 50-day moving average (MA) of $36.71 and further resistance at its 200-day MA of $37.78.

SmarTrend is tracking the current trend status for General Motors C and will alert subscribers who have GM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle general motors c

Ticker(s): GM