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Look for Shares of General Motors to Potentially Pullback after Yesterday's 1.94% Rise

By Nick Russo

General Motors (NYSE:GM) traded in a range yesterday that spanned from a low of $33.90 to a high of $34.47. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $34.10 on volume of 5.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

General Motors share prices have moved between a 52-week high of $38.55 and a 52-week low of $24.62 and are now trading 40% above that low price at $34.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of General Motors on March 21st, 2017 by issuing a Downtrend alert when the shares were trading at $35.22. Since that call, shares of General Motors have fallen 4.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders General Motors

Ticker(s): GM