The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 3/15/2024 -
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General Motors (GM) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :The price has risen above the Parabolic SARPrice is near the Fibonacci 61.8% retracement levelThe period of low volatility of the stock price
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It was a first positive week for the General Motors (GM). During the week, the GM gained 1.19 points, or 3.01%, and closed at 40.69 on Friday, March 15, 2024. Weekly volume was 14% above average.

Long-term trend: [See GM long-term trend chart]
A long-term downtrend had started on February 16, 2023 at 43.63 and reached 26.30 on November 10, 2023. GM lost 17.33 points, or 39.72%, in 38 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (22.74) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See GM medium-term trend chart]
A medium-term uptrend had started on November 10, 2023 at 26.30 and reached 41.79 on March 1, 2024. GM gained -15.49 points, or -58.90%, in 16 weeks. The price is now at the 7.10% retracement level.

Weekly Technical Indicators: [See GM weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See GM short-term trend chart]
A short-term downtrend had started on March 1, 2024 at 41.79 and reached 38.95 on March 14, 2024. GM lost 2.84 points, or 6.80%, in 13 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See GM daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is falling, and it was 6.78% on Friday. It is 52.59% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.84
Williams' Percentage Range (W%R) 68.80
Lane's Stochastic (%D-Slow) 34.65
Greed/Fear Indicator (GFI) 40.88
Moving Average Converg./Diverg. (MACD) 0.67
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.82
Williams' Percentage Range (W%R) 16.30
Overbought
Lane's Stochastic (%D-Slow) 83.40
Overbought
Greed/Fear Indicator (GFI) 75.76
Moving Average Converg./Diverg. (MACD) 0.93
Trading Signals
Description Value Chart
Upper Bollinger Band 41.00
Price 40.69
Weekly Stochastic Crossing 40.53
20 Day Moving Average 39.92
Daily Stochastic Crossing 39.70
Parabolic System 38.91
Lower Bollinger Band 38.24
50 Day Moving Average 38.07
Quarterly Trendline Resistance 36.64
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Automobile Manufacturers 87
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 41.79
High Date 03/01/2024
Low 38.95
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.32
Low Date 01/18/2024
High 41.79
High Date 03/01/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.30
Low Date 11/10/2023
High 41.79
High Date 03/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 36.64
Support 22.74
High 43.63
High Date 02/16/2023
Low 26.30
Low Date 11/10/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.21
High Date 01/05/2022
Low 26.30
Low Date 11/10/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.