On 05.10.2021 I shared my analysis and thoughts about the General Motors stock, after they posted significant business news which can positively influence their future performance. My trading scenario was that as soon as the stock breaks out of its consolidation channel (above $55.61) it might be beneficial to buy the stock according to the technical breakout signal. As we can see on the chart, the stock the breakout happened on 07.10.2021. If one followed this breakout, the current performance would be +13.4%, which is quite good in my opinion, as the stock price might rise even higher. It might be beneficial to move the stop-loss closer to the breakout level, so that at least a small profit is secured and that the trade does not turn into a loss.
What are your thoughts on General Motors: Leave a comment down below 👇
🚫 No investment advice, I am just displaying my personal opinion which might be wrong!