It’s sure not the sexiest of my holdings, but it is a chart I happened to notice a while back. The pattern was interesting, but earnings were upcoming, so I decided to wait through earnings. The result is a drop to the preferred buy area.
What I like best about the daily chart of GM is that it gives me a clear parameter with which to limit the loss. That would be here at the top of pattern support and the converged moving averages. If successful, the pattern could measure out toward the Q4, 2024 high. If it sticks around, it’ll be an oddball diversifier in the portfolio. Most of my “bull stocks” are Tech oriented.
As a side note, I would not expect a drop like this to simply reverse tomorrow. So, it could do some grinding around here in the short-term.
NFTRH+ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
