General Motors Company Stock Code GM.NYS
Outlook
Price moved below the cloud last night after breaking above the cloud 2 days ago. Price has also moved below the Conversion and Base lines although both Conversion and Bases lines have not had a bearish crossover as yet. This may not be a reversal of trend as the previous trend was rather flat and in a range. We think price could be in a consolidation and could be in a triangle consolidation. Price could be moving lower to the lower boundary of the triangle. Going by the Ichimoku E and V price projection, we have price targets of $34.78 and $35.02. MACD is moving down and could be turning bearish soon.
Strategy
$36.20 Short Sell
$35.02 Price Target
$37.05 Risk Management Stop
2 weeks Trade Duration
Gap Inc Stock Code GPS.NYS
Outlook
Price moved above the cloud yesterday with a strong and larger than average bullish candle. This could be a hint of a change in trend. Price has tried to break below the cloud 3 days ago but was not successful and had turned around higher last night above the cloud. Both Conversion and Base lines had a bullish crossover earlier hinting of a possible bullish trend. Chart pattern showed that price has been in a rectangle consolidation and price has broken above the first resistance of the rectangle chart pattern.
Strategy
$18.10 Buy
$19.75 Price Target
$16.95 Risk Management Stop
3 weeks Trade Duration
