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Watch for General Motors C to Potentially Pullback After Gaining 9.62% Yesterday

By Nick Russo

General Motors C (NYSE:GM) traded in a range yesterday that spanned from a low of $20.71 to a high of $21.80. Yesterday, the shares gained 9.6%, which took the trading range above the 3-day high of $19.30 on volume of 7.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, General Motors C has traded in a range of $14.33 to $41.90 and is now at $21.43, 50% above that low. The 200-day and 50-day moving averages have moved 1.17% lower and 5.17% lower over the past week, respectively.

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: rebounders general motors c

Ticker(s): GM