General Motors – Tick Insights

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

Ebay Inc. Stock Code EBAY.NAS

Price reached a high at $35.66 recently. This was also a former high as well as a support turned resistance point. Recent price ranges are getting smaller. This is a hint of a price consolidation and a possible end of the rally. MACD supports this view with bearish divergence formed as price reached the high at $35.66.There is a big gap resistance zone from $35.66 to $37.77. Price is likely to test this resistance zone but should not go above it. If price is unable to close this gap zone, it is likely to decline. First support is at $32.38 and the next possible target is at $31.01. We would recommend selling into the gap resistance around $36.80 for a move to $32.38

Strategy

$36.80 Short Sell
$32.38 Price Target
$37.80 Risk Management Stop
3 weeks Trade Duration

General Motors Company. Stock Code GM.NYS

Outlook

Price reached a high of $40.74 and gapped down the next day, closing a gap that was created 2 days earlier. This is an exhaustion gap and it is a hint of a top in place. This high is also just above the Fibonacci 61.8% of the decline from $44.96 to $30.50. Price should not go above $40.10 and if this gap is not closed, price is likely to go down to the next support zone at $36.26 to $35.72. This support zone is formed by the combination of gap support, Base line and previous high. MACD supports this bearish view with a bearish divergence seen when price made the high at $40.74. We think it is a good opportunity to get a short position with a small stop loss for a decline to $36.26-$35.72.

Strategy

$38.90 Short Sell
$40.10 Price Target
$35.80 Risk Management Stop
3 weeks Trade Duration