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timwest
Apr 8, 2016 3:33 PM

GM General Motors pulling back to massive support  做多

NYSE:GM
General Motors CompanyNYSE

描述

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Using the KEY LEVELS method, GM is a low-risk buy against the support created by the last earnings report.

I like to trade against these KEY LEVELS and enter AFTER earnings have been released and the stock revisits the KEY LEVEL. If you rally INTO the Key level then it is RESISTANCE. If it falls down TO the Key level then it is support.

Risk is 1 average range on the other side of the key level.

Upside is to the high of the rally prior to the retest of the Key level.

Target 32-32.50.

32.50 is also a level of LOW VOLUME which is "massive resistance".

Why didn't it trade any volume at 32.50? Because there was a huge seller there and it drove it down under that price. The first time back to it you will see a meaningful reaction.

Cheers.

Tim

11:32AM Friday April 8, 2016

GM 29.48 last, 28.50 stop, 32.50 target.

评论

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Barron's Cover story is helping lift GM this morning. Barron's forecast a 25% upside potential for GM & Ford.

评论

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The 32-32.50 target window was reached today.

交易结束：到达目标

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评论
grcla
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Excellent trade, thank you!
vaicru
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well done !
timwest
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Thanks @vaicru
TomPower
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Jim I didn't read it but I followed this post for quite a while and was amazed at its success
Alekznder
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Excellent and unique approach as usual. I manage to learn something entirely new from you every week!
edmunch
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Hi Tim! Is it too soon to talk about a broken support??
timwest
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@edmunch, What did you want to talk about?
A-shot
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Will you be holding through earnings though?
timwest
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I would cut back to half-size positions. I think the risk isn't necessary to take.
G13Man
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just read an article about subprime car loans and student debt
do you think Barron s took that into consideration
or is barrons looking short term ?
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