20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
We all know the history of General Motors, the company, over the last several years, but the stock has done very well since mid-2012. However, the last month or so hasn't been kind to it.
Owners of the stock should be monitoring a few of the key prices shown below to confirm whether or not the decline is going to continue, or if its at an end.
The company: General Motors
Ticker Symbol: (NYSE: GM)
Sector: Consumer Goods
Industry: Auto Manufacturers
General Motors designs, manufactures, and markets cars, crossovers, trucks, and automobile parts worldwide. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden and Vauxhall brand names, as well as under the Alpheon, Jiefang, Baojun and Wuling brand names.
See also: Five Star Stock Watch - Google
The company, through its subsidiary, General Motors Financial Company, Inc. provides automotive financing services and lease products through GM dealerships in connection with the sale of used and new automobiles that target customers with sub-prime and prime credit bureau scores.
Please take a look at the one-year chart of General Motors below with added notations:
The first sign of trouble for General Motors was when its trendline of support broke back at the beginning of the year. Once that support broke, the stock started a decline as traders might expect.
Now the stock is approaching a very important level of support at $34. A break of this level most likely means an acceleration of the decline. A rally from here should be watched closely to see if the stock can break back above the previously important resistance of $38.
See also: Five Star Stock Watch - Ford
Ford isn't set to release earnings again until April or May of 2014.
No matter what your strategy, or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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