General Motors - (GM) - June 8, 2021 

General Motors* (GM) recently returned to the Green Favored Zone in the SIA S&P 500 Index Report from a brief dip into the yellow zone. Yesterday it climbed 6 spots to 110th place.

Over the last six months, shares of General Motors* (GM) have steadily advanced in a step pattern of rallies followed by periods of consolidation at higher levels. Last Friday, the shares broke out over $63.50 to a new high on a jump in volume, indicating a surge in interest from investors and signaling the start of a new rally phase.

Based on measured moves from the two most recent trading ranges, next potential upside resistance tests on trend may appear in the $73.00-$73.50 zone, then the $81.00 to $83.50 area. Initial support appears near the $60.00 round number, then the 50-day moving average near $58.00.

*Shares of General Motors are currently included in portfolios managed by SIA Wealth Management

Over the last year, a consistent uptrend of higher lows has unfolded in General Motors* (GM) shares indicating steady accumulation and strong underlying support. A number of significant bullish technical signals have emerged along the way including a Quadruple Top breakout in May 2020, the snapping out of a downtrend in September 2020, and the initial breakout to a new 52-week high in November 2020. In recent months, the shares have continued to climb, completing a series of bullish Double Top breakouts, including one this week which has signaled the start of a new upleg. Based on vertical and horizontal counts, next potential upside resistance on trend appears near $73.50, $78.00 and $81.15. Initial support appears near $57.95 based on a common 3-box reversal.



With a perfect SMAX score of 10, GM is exhibiting strength across the asset classes.

*Shares of General Motors are currently included in portfolios managed by SIA Wealth Management

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Keep up to date on the latest financial market news.

Receive a daily newsletter with stock highlights, ETF rankings, weekly market focus and others.