Trade Ideas - GM andf APOL
Chart courtesy of stockchartsGeneral motors shares were up more than 2% to 36.25$ today after an upgrade from Goldman Sachs. Analyst Robert Barry upgraded General motors to "Buy" from "Neutral" and raised his price target to $42 from $29. Technically speaking based on chart above GM shares have touched and broken just for a few minutes above the major resistance at 36.67, however during the session and following the markets lost some strength closing the day at 36.25$ with a strong volume. Stock is trading in Overbought conditions, so I think that needs to stop and take some fresh air to break the resistance with a strong confidence. So, I suppose that it will take a short break here to move up again. GM has nice Bullish chart.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
