Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GM stock price is currently trading at $33.12 with a drop of 0.61% in the last 24 hours.</a> </li> 
 <li> <span>2</span> <a>GM stock shows selling pressure; it is heading toward the demand zone of $31.50.</a> </li> 
 <li> <span>3</span> <a>Sellers have gained momentum and looked aggressive in the past sessions.</a> </li> 
</ul> 
<p>GM stock faced resistance from the upper trendline mark and broke below 50, 100, and 200 days EMAs demonstrating bearishness in the stock. General Motors stock has stayed in a downtrend over the past months and persisted in forming lower highs and lower lows sequences, facing rejection from the upper trendline, which acted as a barrier.&nbsp;</p> 
<p>General Motors stock has been trading within a horizontal range between $41.00 and $31.00. This collapse of stock price shows that bears are in control. Similarly, the price action shows that GM has persisted in facing selling pressure, and buyers have stayed on the back foot. In contrast, sellers have a strong edge and continue to make short positions.</p> 
<p>At press time, General Motors stock price was $33.56 with an intraday gain of 1.91%, trading below the 50 and 200-day EMAs, showing bearishness on the charts. Moreover, the intraday trading volume (10.263 Million) also showed a decline, as compared to the average 10-day volume of 14.351 Million. The market cap of General Motors stock is $46.175 Billion.</p> 
<p>Moreover, the key moving averages like 50, 100, and 200 are hurdles for the GM share recovery. To bounce back from the current levels, the stock must surpass these key moving averages. However, if this could happen, it would result in a price surge.</p> 
<h2 class="wp-block-heading" id="strong-will-gm-stock-break-below-or-break-above-the-channel-pattern-strong"><strong>Will GM Stock Break Below or Break Above the Channel Pattern?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/CpIC5XXZ7bIjKGgaDYMcyodnqKhCWNgeJejavouRklaAckfwoCqtKKkvtdyU0tsVXd7WdtbmThYdZOO_D2xe8oSayvPea_V_2K4HZaCD8dkO-bInn3q0ft2arBUmb42bm38uIxWUaGFjXf0o5i2XkhM" alt="GM Stock Prediction: Is It Time to Buy or Sell General Motors?"> 
  <figcaption class="wp-element-caption">
    Source: GM.1D.NYSE by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>GM stock trading in a horizontal channel on the daily timeframe, a pattern in which the price is near the lower trendline below the 50-day and 200-day EMAs which are acting as resistance, indicating weakness. Recently, the stock was rejected from the upper trendline. GM stock is now trading near the lower Bollinger band and above the 0% Fib level, below the 23.60% level. Furthermore, the chart shows sellers are gaining traction and preparing for the next bearish move.</p> 
<p>On the daily charts, GM stock is on the verge of a breakdown, which will be registered when the price falls below $31.00. The current value of RSI is 34.85 points. The 14 SMA is above the median line at 31.86 points which indicates that the GM stock is bearish.</p> 
<p>The MACD line at -1.33 and the signal line at -1.13 are below zero. A bearish crossover is observed in the MACD indicator which signals more bearishness for the GM stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/24/amc-entertainment-ape-stock-conversion-backfires-amc-stock/" rel="noopener noreferrer nofollow">GM stock price</a> action suggests that the investors and traders are bullish on the 1-D time frame. The price action reflects a bullish perspective at the moment. Furthermore, GM Investors might be avoiding the fear of missing out. GM stock technical indicators indicate a bearish trend. The MACD, RSI, and EMA are giving bearish signs and suggest that the downtrend could continue in the General Motors stock price.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> Most immediate support levels are $36.64 and $34.91</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> The most immediate resistance levels are $40.57 and $42.77.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

GM Stock Prediction: Is It Time to Buy or Sell General Motors?

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Thecoinrepublic.com

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