Chart of the Week: General Motors
Hey good morning everybody. It’s time for our chart of the week for June 17. We’re gonna talk about General Motors here; GM is the symbol here. Let’s take a look at this stock. It’s had a really nice run here lately, and I think it’s got some more upside to go.
So the recent bottom from back in March – and tested back in the middle of May – seems pretty firm here. You can see that multiple tests down to about the $72.5, $73 level in March and then in early April. And then we tested that 200 day moving average, which was slightly below that $72 area, back in the middle of May. And from that point on, we fired up.
And you can say that this was what we call a morning star pattern, which is a three-candle pattern – I like to see four – but three-candle pattern where you get a dark day, or a down day, then a doji, followed by an up session. And then you get a follow through day, which went through that 50 day moving average. So that was ideal right there – this was really a good spot to add at about $77.
It shot up three days later up to right near the levels where we’re at now – about $83.5 to $85. Which is, kind of, you can see here, is a consolidation zone – and you can see that right there. So we’re kind of in that area from back in late January, early February.
I do like the technicals here.
The relative strength making higher highs and higher lows. We’re not overbought here yet.
We’ve had good volume trends.
Down here on the bottom, you can see that the strength of on-balance volume is still good, even though it’s been declining a little bit as the stock went sideways here.
And you can see the larger picture of this stock is a sideways movement as well. Not too surprising we get that sideways movement in front of earnings season. Their quarter is going to be ending in about two weeks on June 30.
We have a buy signal here on the MACD too. MACD crossover right there.
We see good money flow as well. So big institutions are coming into this stock, slowly but surely, and I think eventually this stock has got some room to get to about $100, maybe $105, perhaps by the end of the year. That would be a really nice run for General Motors.
It did start the year off over here at about $81-82, so it’s not up that much in 2026. But I think get a little bit of momentum, get above that all-time high back in January, February, let’s call it about $86-87, and I think General Motors has got some legs here.
As an aside, if you take a look at Chaikin Analytics, it’s bullish too on the analytics.
With good money flow, the Chaikin Power Gauge is green, which is bullish. It use to have an oversold reading here. Oversold reading is probably going to be a buy.
So you know, I like the chart here. I like the opportunity with General Motors. Again, not looking for a huge move, but you know, 20% on General Motors would be a solid one.
Thanks so much for watching everyone, and I’ll see you guys next time.
