The idea that General Motors might have not only put in a major bottom but also reversed towards a healthy uptrend is one that is tough to swallow for politically-charged traders, not to mention those in general who traded through the 2008 crash.
And yet, when you put a given bias aside you will note the clear uptick in buy volume in GM over the past several months, as the daily chart moving averages have smoothed out and are now turning up. Moreover, the buy volume has been consistent and indicative of accumulation.
General Motors reports earnings on Halloween, and while I do not play earnings I certainly would not be surprised to see a continued move higher in the coming months.
2 Responses to Eyes Wide Shut to a GM Halloween Surprise
Seems most times when a Guy starts talking Auto Co.’S you the glassy-eyed stares.
I bought Ford @ 9 , so I just let them babble poilitics and smile along