Downgrade Alert for General Motors (GM)
General Motors (NYSE:GM) was downgraded from Buy to Hold at Craig-Hallum today. The stock closed yesterday at $31.60 on volume of 34.0 million shares, above average daily volume of 11.7 million.
Potential upside of 33.6% exists for General Motors, based on a current level of $31.60 and analysts' average consensus price target of $42.22. General Motors shares should encounter resistance at the 200-day moving average (MA) of $31.75 and support at the 50-day MA of $31.00.
In the past 52 weeks, General Motors share prices have been bracketed by a low of $24.62 and a high of $36.88 and closed yesterday at $31.60, 28% 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 Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.
SmarTrend recommended that subscribers consider buying shares of General Motors on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.62. Since that recommendation, shares of General Motors have risen 7.7%. We continue to monitor GM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades General Motors