Today’s instrument is General Motors Co’s stock traded in NYSE exchange under the ticker GM.
When we look at the GM’s chart, we can see it’s been trading in a channel between $51 support and $54 resistance for the past week, with the exception of falling from the $51 price level to $49.5 at the opening of yesterday’s session, but immediately recovering with a bounce-back at $52 and closing strongly. It was last found trading at $52.74 with the closest overhead resistance of $54 and the closest support level at $49.50.
General Motors Co has scheduled a quarterly earnings announcement today 01/02/2022. If earning expectations are surpassed, we could expect the price to move upwards, towards the $56 price range.
Today we can expect a move towards the $54 resistance or consolidation at the current level.
Photo by Elishia Jayye on Unsplash
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