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4GM trade ideas

GM 10/1/2023GM About to blow. After receiving those COVID bucks that propelled its stock into a nice uptrend, GM spent most of 2021 in a distribution stage, forming an M-top pattern. The price entered a downtrend in February '22 and finally found support in July '22. The price entered a sideways range, initially resembling a rising wedge but later developing into a sideways channel. Now price finds itself at the support level of this channel for the fourth time now. It's important to note that the more a support level is touched, the weaker it becomes. Additionally, it is currently under both the 50 and 200 EMA (Exponential Moving Average) Entering trade short Entry: 32.99 Stop Loss: 35.07, -6.30% Target: 19.27, +41.59%, 6.6 RR ratio
NYSE:GMShort
by rudcharts
General Motors Surges 5% on First Quarter ResultsGeneral Motors ( NYSE:GM ), the Michigan-based automaker, exceeded Wall Street's predictions and raised its annual forecast in its first-quarter report, citing stable pricing and demand for its gas-engine vehicles. The company increased its adjusted pretax profit projection to $12.5 billion to $14.5 billion, from its previous range of $12 billion to $14 billion for the year. GM's net income for the first quarter increased by 24.4% over the year-ago period to $3 billion, with the automaker reporting a 7.6% rise in revenue to $43 billion. Its adjusted earnings per share of $2.62 surpassed the average Wall Street target of $2.15, and revenue exceeded the Wall Street target of $41.9 billion in the March quarter. Investors were pleased with strong vehicle pricing for gasoline-powered trucks, which continue to generate substantial profit and free cash flow, according to Tim Piechowski, portfolio manager at ACR Alpine Capital Research in St. Louis. Despite GM's struggles in China and with electric vehicles, its truck and SUV business remains strong. GM's business in China, previously the automaker's largest market, has been declining, with Chinese automakers and Tesla gaining market share in the region through deep price cuts and refreshed technology offerings. NYSE:GM lost $106 million in China in the quarter, which CFO Jacobson explained to reporters was less than expected, as the company worked through inventory. GM's CEO, Mary Barra, faces two significant challenges ahead: turning around GM's shrinking sales in China and salvaging Cruise, its robotaxi unit. Cruise halted operations last year after one of its self-driving cars dragged a woman down a San Francisco street. Earlier this year, company officials announced that NYSE:GM would cut spending on this unit by $1 billion. The robotaxi business lost $2.7 billion last year, not including $500 million in restructuring costs incurred in the fourth quarter as the unit cut staff. GM spent $400 million on Cruise in the first quarter. GM's joint venture with LG Energy Solution, called Ultium Cells, is ramping up production of battery cells at plants in Ohio and Tennessee, as Barra noted. She also said that the company continues to see sequential and year-over-year improvements in profitability as it benefits from scale, material cost, and mix improvements. Both NYSE:GM and crosstown rival Ford Motor are relying on profit from gas-engine trucks to alleviate investors' concerns as they funnel cash into costly EV development. While GM has not broken out financial results for its EV business, CFO Jacobson maintained previous forecasts for turning a profit. He expects variable profit, which excludes fixed costs, to be positive by the second half of 2024. Tesla, the EV leader, recently laid off more than 10% of its global staff and slashed prices on its models across several markets. It is expected to post its first revenue drop and lowest gross margin in nearly four years, according to LSEG data. NYSE:GM outlined a $10 billion stock buyback last year after reaching a costly new labor agreement with the United Auto Workers union. The company announced that the first tranche of this was completed in the first quarter.
NYSE:GMLong
by DEXWireNews
GM may be pivoting down SHORTGM on the weekly chart has ascended to the top of the high volume area of the long term volume profile. The predictive algorithm forecasts a bounce down from that level. The MACD indicator shows lines crossing over the histogram while the RSI lines are in the 60s about the same level as the market pivot in 2022. The Supply / Demand indicator has the lines with zero slopes ( flat) and ready for a reversal. Fundamentally, GM is challenged by the dynamic between EVs and hybrids moving foward and federal mandates on fleet production efficiency quota. I will take a short trade here along with Ford.
NYSE:GMShort
by AwesomeAvani
General Motors (GM) Soars to New Heights Amidst Insider Sell-offGeneral Motors Company (NYSE: NYSE:GM ) has been dominating headlines recently, not only for its impressive stock performance but also for a notable insider sell-off by Executive Vice President Rory Harvey. Despite this sell-off, NYSE:GM 's stock surged to a fresh 52-week high, reaching $43.06 in the previous session. Insider Sell-off Amidst Record Highs: The recent insider sell-off by Executive Vice President Rory Harvey, who offloaded 5,100 shares of NYSE:GM , might raise eyebrows among investors. However, it's essential to put this transaction into context. Insider selling is not uncommon, and it doesn't always signal a lack of confidence in the company's future prospects. Instead, it could simply be a strategic move by an executive to diversify their portfolio or address personal financial needs. Record-Breaking Performance: Despite the insider sell-off, NYSE:GM 's stock has been on a remarkable uptrend, surging 8.5% over the past month alone. This surge has propelled the stock to new heights. The company's stock has gained 19.3% since the beginning of the year, showcasing its resilience amidst broader market volatility. Earnings Beat and Future Projections: GM's stellar performance is underpinned by its robust financials and consistent earnings beats. The company has a stellar track record of surpassing earnings consensus estimates, having not missed expectations in the last four quarters. In its most recent earnings report, NYSE:GM reported an EPS of $1.24, comfortably beating the consensus estimate of $1.12. Moreover, its revenue also exceeded expectations, further bolstering investor confidence. Looking ahead, analysts remain bullish on NYSE:GM 's prospects, with expectations of continued growth. For the current fiscal year, NYSE:GM is projected to post earnings of $9 per share on revenues of $174.98 billion, representing a substantial increase in EPS and revenues. Similarly, for the next fiscal year, the company is expected to deliver solid earnings growth, further cementing its position as a market leader. Valuation and Investment Outlook: While GM's stock may be trading at a 52-week high, valuation metrics suggest that the company still has room to run. With a Value Score of A and strong Momentum Score, NYSE:GM appears to be attractively priced relative to its growth prospects. Investors should consider the company's strong fundamentals, consistent earnings performance, and positive outlook when evaluating its investment potential. In conclusion, General Motors' ( NYSE:GM ) impressive performance and bullish outlook make it a compelling investment opportunity, despite the recent insider sell-off. With robust financials, consistent earnings beats, and favorable valuation metrics, NYSE:GM is well-positioned to sustain its momentum and deliver long-term value to investors.
NYSE:GM
by DEXWireNews
General Motors (GM): Charting a Course for SuccessGeneral Motors (GM): NYSE:GM General Motors has been added to our portfolio, starting our chart analysis from the COVID-19 low at $14.33. Since then, we've developed an overarching Wave (1) in blue and have also already completed Wave (2) at $26.30, characterized by an Expanded Flat and Zigzag correction. We are now in the midst of the overarching Wave (3), which is expected to exceed both Wave (1) and the local high of $67.06. The 4-hour chart provides a clearer view, indicating that we are currently near the conclusion of a circled Wave (i). In the coming weeks, we may see a downtrend towards Wave (ii), where the price should stabilize between the 50% and 78.6% retracement levels. The exact positioning of this phase is yet to be determined. Upon the first sign of weakness, we plan to place a limit order.
NYSE:GMLong
by freeguy_by_wmc
Turbulence in GM's Cruise: Leadership Exodus and the Road AheadGeneral Motors' ( NYSE:GM ) autonomous driving subsidiary, Cruise, finds itself navigating choppy waters yet again as the departure of Carl Jenkins, the head of hardware, marks another significant exit from the company. Jenkins' resignation, announced amid a series of departures since the suspension of U.S. operations in October, underscores the challenges facing Cruise in its quest for self-driving technology supremacy. Jenkins, a stalwart of the autonomous vehicle (AV) industry with six years at Cruise, leaves behind a void in the development of crucial hardware components, including microchips and sensors. His departure follows the suspension of operations triggered by a tragic incident in San Francisco, where a pedestrian was fatally struck by a self-driving Cruise vehicle, prompting California authorities to suspend the company's permit for driverless vehicles. The aftermath of the accident saw Cruise's then-CEO, Kyle Vogt, and co-founder Dan Kan resign, signaling a leadership shakeup. Now, with Jenkins' exit, questions arise about the stability of Cruise's leadership and its ability to regain momentum in the fiercely competitive AV landscape. Mo Elshenawy, Cruise's Co-President, acknowledged Jenkins' departure in an internal communication, emphasizing the critical role of the autonomous vehicles platforms team in Cruise's efforts to resume testing. However, neither Jenkins nor Elshenawy provided a reason for the departure, leaving stakeholders speculating about underlying issues within the organization. The timing of Jenkins' resignation, amid ongoing regulatory scrutiny and public skepticism surrounding self-driving technology, amplifies concerns about Cruise's future trajectory. With competitors such as Waymo and Tesla making significant strides in the AV space, Cruise faces mounting pressure to demonstrate its commitment to safety and innovation. Yet, amidst the turbulence, Elshenawy strikes an optimistic tone, highlighting Cruise's position in a transitional phase as an opportunity for redefinition and growth. However, the road ahead remains fraught with challenges, from rebuilding public trust to addressing regulatory concerns and ensuring the seamless integration of hardware and software components. As Cruise navigates these complexities, stakeholders, including investors and consumers, will be closely watching how the company adapts and evolves in the face of adversity. Jenkins' departure serves as a stark reminder of the hurdles inherent in pioneering autonomous technology and underscores the imperative for Cruise to chart a course towards a safer, more sustainable future for self-driving vehicles. In the wake of Jenkins' resignation, the onus is on Cruise's leadership to instill confidence, foster innovation, and steer the company towards its vision of a world where autonomous vehicles redefine mobility. Only time will tell whether Cruise can weather the storm and emerge stronger on the other side. Through strategic decision-making and a steadfast commitment to its mission, Cruise must prove that setbacks are but temporary detours on the road to revolutionizing transportation. As the AV industry continues to evolve, Cruise's ability to navigate uncertainty and stay the course will determine its legacy in shaping the future of mobility.
NYSE:GM
by DEXWireNews
GM PennantI noticed a bunch of stocks forming pennants lately, small caps (IWM/RTY1!) has a huge on as I mentioned earlier today. I think CPI numbers Tuesday determines the direction, the only thing that can tank the market is inflation. I might run a straddle with options Monday before close since I have no idea if CPI comes in above or below estimates. GM is a good one to play since it moves well relative to option premiums. The return isn't all that great when you play straddles, but the most you can lose overnight is premium for one night and the spread between bid and ask. Just pick a stock that moves a lot with small spread. Let me know if you have other stocks or ETFs that might be worth playing Monday. Also, retail sales Thu and PPI numbers Friday.
NYSE:GM
by hungry_hippo
General Motors Navigates Challenges, Sees Bright Spots in 2024 General Motors ( NYSE:GM ) is making headlines after a roller-coaster ride in the fourth quarter of 2023, marked by a 9.50% surge in premarket trading on Tuesday. Despite a 41.5% decline in adjusted earnings and a slight drop in revenue, the automotive giant's positive outlook for 2024 and strategic moves have caught the attention of investors. We'll delve into the key factors shaping GM's current trajectory and explore what lies ahead for the company. Q4 Performance and Hurdles: NYSE:GM 's Q4 report showed a 41.5% decline in adjusted earnings to $1.24 per share, the first drop in five quarters, attributed to factors such as unsold electric vehicles and a 40-day strike. However, these results were less severe than expected, with FactSet analysts predicting a 45% decline to $1.16 per share. The impact of unsold EVs led to a $1.6 billion charge, and an additional $800 million charge was tied to the recall of Chevy Bolt batteries. Promising U.S. and China Deliveries: Despite the challenges, NYSE:GM delivered 2.6 million vehicles in the U.S. during 2023, boasting a 14% YoY increase. The company claimed a 16.2% total market share in the United States for 2023. Furthermore, NYSE:GM and its joint ventures delivered 2.1 million cars to China, underlining the global reach of the automaker. Strategic Moves and Shareholder Returns: NYSE:GM 's management outlined a positive outlook for 2024, emphasizing a resilient U.S. economy and continued demand for vehicles. The company aims to capitalize on strong demand for combustion trucks and SUVs in North America, cost-cutting initiatives, and the increasing sales of its new generation of electric vehicles. In a bid to reward shareholders, NYSE:GM has already returned $12 billion in 2023 through a $10 billion share buyback and a 33% dividend increase. The company pledged to "consistently return excess free cash flow to shareholders" and outlined a forecast of adjusted pre-tax profits in the range of $12 billion to $14 billion for 2024. Electric Vehicle Focus: NYSE:GM is banking on the growing popularity of electric vehicles, with plans to increase overall EV sales to 10% of the U.S. market in 2024, up from 7% in 2023. The company's Chief Financial Officer, Paul Jacobson, expressed confidence that GM's electric vehicle operations would start generating variable profit by the second half of the year. Cruise Unit Challenges and China Market Dynamics: While NYSE:GM faces challenges in its Cruise robo-taxi unit, marked by a $1 billion spending cut and an external law firm's report faulting Cruise management's response to an incident, the company aims to refocus and relaunch Cruise. Meanwhile, in China, NYSE:GM acknowledges deepening challenges with domestic automakers and Tesla gaining share. The company expects a loss for the current quarter in the Chinese market. Conclusion: General Motors' ( NYSE:GM ) journey through Q4 2023 reflects a mix of challenges and promising innovations. As the automotive industry undergoes transformative shifts towards electric vehicles, NYSE:GM 's strategic moves and positive outlook for 2024 position the company for a dynamic year ahead. Investors will be watching closely as NYSE:GM navigates the evolving landscape, capitalizing on strengths and addressing challenges to drive future growth.
NYSE:GMLong
by DEXWireNews
GM General Motors Company Options Ahead of Earnings If you haven`t bought the dip on GM before the previous earnings: Then analyzing the options chain and the chart patterns of GM General Motors Company prior to the earnings report this week, I would consider purchasing the 35usd strike price at the money Puts with an expiration date of 2024-4-19, for a premium of approximately $1.85. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:GMShort
by TopgOptions
GM Revving Up for a Short Ride UpGM Daily Chart Although GM formed a double top, it is showing signs of strength at a support level (green bar). If GM goes up in the beginning of next week, it will go up to 40. GM is close to the upper trendline of the channel. However, it will likely make a fakeout up to 40, where there is resistance from the gap. This will happen around the time GM's earnings are declared. GM's ride up to 40 will complete the fifth wave. Then it will be a ride down to 32, the next support level.
NYSE:GM
by RS3175
2
General Motors (NYSE: $GM) Announces $10B Share Buy-backGeneral Motors (GM) stock increased by 10.7% on Wednesday after the company announced plans to increase shareholder returns. The automaker announced: 1. A $10 billion accelerated share buyback program 2. A 33% increase in its common stock dividend beginning in 2024 3. Reinstatement of its 2023 earnings guidance 4. The dividend will increase to $0.12 per quarter. General Motors expects net income in the range of $9.1 billion to $9.7 billion. General Motors Outlook Scaling back on its EV and driverless vehicle ambitions. Navigating higher labor costs due to a new union contract with the United Auto Workers. Finalizing a 2024 budget that will offset the costs of new labor agreements Reducing capital intensity, developing products more efficiently, and reducing fixed and variable costs. GM is only recently emerging from the six-week strike that cost the company more than $1.1 billion during the third and fourth quarters. GM lost more than 31,000 units of production, more than competitors Ford and Stellantis. Despite Wednesday's jump, GM stock is down 5.56% year to date. Technical Analysist The 10-day chart shows that GM stock has been fluctuating between a low of $26.30 on November 20 and a high of $31.75 on November 30. The stock has experienced some volatility due to various factors, such as the global chip shortage, the electric vehicle competition, and the regulatory and safety challenges of its self-driving subsidiary Cruise. Price Momentum General Motors (NASDAQ: GM) is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
NYSE:GMLong
by DEXWireNews
General Motors (NASDAQ: $GM) Announces $10B Share Buy-backGeneral Motors (GM) stock increased by 10.7% on Wednesday after the company announced plans to increase shareholder returns. The automaker announced: 1. A $10 billion accelerated share buyback program 2. A 33% increase in its common stock dividend beginning in 2024 3. Reinstatement of its 2023 earnings guidance 4. The dividend will increase to $0.12 per quarter. General Motors expects net income in the range of $9.1 billion to $9.7 billion. General Motors Outlook Scaling back on its EV and driverless vehicle ambitions. Navigating higher labor costs due to a new union contract with the United Auto Workers. Finalizing a 2024 budget that will offset the costs of new labor agreements Reducing capital intensity, developing products more efficiently, and reducing fixed and variable costs. GM is only recently emerging from the six-week strike that cost the company more than $1.1 billion during the third and fourth quarters. GM lost more than 31,000 units of production, more than competitors Ford and Stellantis. Despite Wednesday's jump, GM stock is down 5.56% year to date. Technical Analysist The 10-day chart shows that GM stock has been fluctuating between a low of $26.30 on November 20 and a high of $31.75 on November 30. The stock has experienced some volatility due to various factors, such as the global chip shortage, the electric vehicle competition, and the regulatory and safety challenges of its self-driving subsidiary Cruise. Price Momentum General Motors (NASDAQ: GM) is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
NYSE:GMLong
by DEXWireNews