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Monday, January 09, 2006 

General Motors have initiated the recovery

Chart courtesy of stockcharts

General Motors have started a Rebound after have touched on December in the lows of the last 25 years ( 18.33$ ).
This Rebound it is associated with the good news that had been published during last week, one of them was related with the good sales performance in Asia and Latin America, according to the news given by the CEO Rick Wagoner.
"Getting outside of the U.S. market we had a good year, on balance, around the world," Wagoner said preliminary sales figures show GM sold 9.2 million vehicles worldwide. The only other year GM sold more than 9 million vehicles was 1978, he said. GM was particularly strong in Asia, selling more than 1 million vehicles for the first time ever, Wagoner said. GM's market share in the Asia-Pacific region was 5.8 percent. In 2004, GM sold 887,000 vehicles in the region and had a 5.2 percent market share. GM also had its best year ever in Latin America, selling more than 900,000 vehicles, Wagoner said. He said the company is still tallying results in Europe but believes it was a record year there as well.
General Motors Corp. gained as much as 7.7% to $22.41, making it the biggest percentage gainer within the Dow industrials. The stock, a drag on the Dow in 2005, was upgraded by Goldman Sachs to "in-line" from "underperform".
Looking to the chart we can see that the indicators are showing Bullish signals ( MAC + RSI + Fullstoch ), also today we have confirmed the break-out of yesterday ( medium term downtrend line )with very good volume. I see now a resistance at 23.08, and we can see some profit taking near these levels.
Tecnical Indicators : EMA 14 :20.36 EMA 50 : 22.76 EMA 200 : 28.86

Today Hot Stocks

AMZN -
JP Morgan downgraded the stock to "underweight" from "neutral". Down 1.65%

IBM - JP Morgan cut its rating to "neutral" from "overweight". Down 1.44%

SIRI - This stock climbed today following the debut of shock jock Howard Stern. UP 0.46%

XMSR - Deutsche Bank upped its rating to a “buy” from a “hold” Monday and raised its price target to $33 from $30. UP 7.12%

After Hours

Most actives : SUNW , Q , MXO , SEBL , CVC , DIA
Hot stocks : AA , ENDP , PLNR , BFLY , CGNX

Earnings for tomorrow January 10

ALDN , AUDC , DNA , SGR

That's All !! Have a great trading day for tomorrow.

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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