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Monday, June 25, 2007 

Trade Ideas - GM andf APOL

Chart courtesy of stockcharts

General 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.

Chart courtesy of stockcharts

Keep an eye on APOL shares for a possible breakout over 50$.

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

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  • I'm a 38 year old Independent Trader using propriety 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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