The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 9/22/2023 -
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General Motors (GM) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are oversold
Daily :Broken trend support lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandThe period of low volatility of the stock price
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It was the negative week for the General Motors (GM). During the week, the GM dropped -1.37 points, or -4.04%, and closed at 32.58 on Friday, September 22, 2023. Weekly volume was -21% below average.

Long-term trend: [See GM long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 67.21 and reached 30.33 on July 5, 2022. GM lost 36.88 points, or 54.87%, in 25 weeks. The price is now at the 6.10% retracement level.

Medium-term trend: [See GM medium-term trend chart]
A medium-term downtrend had started on July 13, 2023 at 41.04 and reached 32.02 on September 7, 2023. GM lost 9.02 points, or 21.98%, in 8 weeks. The price is now at the 6.21% retracement level.

Weekly Technical Indicators: [See GM weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since August 11, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See GM short-term trend chart]
A short-term uptrend had started on September 7, 2023 at 32.02 and reached 34.60 on September 15, 2023. GM gained -2.58 points, or -8.06%, in 8 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (34.05) is broken. A broken support is considered to be a long-term bearish 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 support in a short-term trend.

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

The daily MACD line is above its signal line since August 28, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands is falling, and it was 5.16% on Friday. It is 69.54% 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) 41.46
Williams' Percentage Range (W%R) 62.00
Lane's Stochastic (%D-Slow) 34.70
Greed/Fear Indicator (GFI) 38.05
Moving Average Converg./Diverg. (MACD) -0.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.40
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 12.56
Oversold
Greed/Fear Indicator (GFI) 22.38
Moving Average Converg./Diverg. (MACD) -0.40
Trading Signals
Description Value Chart
50 Day Moving Average 35.13
Parabolic System 34.55
Upper Bollinger Band 34.31
Weekly Trendline Support 34.05
Weekly Trendline Resistance 33.88
20 Day Moving Average 33.24
Daily Stochastic Crossing 33.14
Weekly Stochastic Crossing 32.99
Lower Bollinger Band 32.62
Price 32.58
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 4
Industry Automobile Manufacturers 21
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 34.60
High Date 09/15/2023
Low 32.50
Low Date 09/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 33.88
Support 34.05
Low 32.02
Low Date 09/07/2023
High 34.60
High Date 09/15/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 41.04
High Date 07/13/2023
Low 32.02
Low Date 09/07/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.63
High Date 02/16/2023
Low 31.50
Low Date 05/16/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.21
High Date 01/05/2022
Low 30.33
Low Date 07/05/2022
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.