GM: Rejoining the long side here, gradually

I like $GM here for a bottom against the yearly mode support. It also coincides with a strong support from the uptrend off the 2015 low, which makes me think it won't go any lower than this, despite possibly ranging sideways for a while longer before shooting up with force.

In the long term, $GM's valuation down here will let you sleep well at night, while waiting for the breakout in the quarterly timeframe. Target for it is over $57, so it will be worth it as a hold.
Yield is excellent for a company this size, I'm fairly confident that it will gain traction soon.

Cheers,

Ivan Labrie.

تعليق:

Bottom's in lads. I now have a full position, opened near today's low to add.

تعليق:

I am pretty sure $GM bottomed. Adding gradually.

تم فتح الصفقة:

The first bottom was a fake out, now I think this is the real deal:

Huge level...I'm long from here, stop 30.17

تعليق:

Uptrend back in play.

تعليق:

I'm long and in significant profit here, added and trailed stops after reentering recently. It took a while to actually bottom, but now we're ready to move immediately higher.

تعليق:

Good to rejoin the long.

تعليق:

Excellent spot to buy