General Motors: #PowerStocks Series Pick Of The Week (June 2024)

Are you a fan of racing? Specifically, Formula 1 (F1). I was fascinated by the sheer amount of details required for a race event, more so to come out top after watching "Formula 1: Drive to Survive" on Netflix. This Netflix series converted me to become an F1 fan. Switching gears, the S&P 500 took off after CPI data beat expectations, a sign that the high interest rates is working, in the hope that the Fed will consider lowering rates sooner than later. How did this piece of news affect last week's #PowerStocks pick, Ventas (VTR)?

Review Of Last Week's Pick Of The Week

Ventas (VTR) was last week's stock pick of the week. I expected its share price to fall to around $48.50 and bounce before buying its shares for a swing trade. The positive CPI data pushed the share price of Ventas up instead, so there's no entry based on the pullback strategy discussed. However, you would've entered if you'd used The Art of Explosive Profits framework. You'll even be sitting on some profits! Let's uncover this week's swing trading opportunity together - General Motors (GM).

Why Is Swing Trading General Motors (GM) Worth It?

Source: gm.com

General Motors is a household name in the automobile industry. The company designs, manufactures and sells automobiles globally. It had just emerged from a torrid time, and market participants are highly optimistic about its shares, pushing its share price to new 52-week highs. Such optimism has resulted in an outperformance against the S&P 500 by nearly 3x in the past 3 months! Furthermore, its share price has been highly explosive, consistently bringing outsized returns for swing traders. And here's the best part - a swing trading opportunity is just around the corner. What’s the price area I’m watching for an entry? Continue reading to get the details. P.S. What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short amount of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!

Performance Of US Stock Market vs General Motors (GM)

Referring to the comparison chart above, did you make these 2 important observations - trend and performance of General Motors' shares? The share price of General Motors is in a fantastic uptrend, rising relentlessly. To increase your odds of profiting from the stock market, it's a good idea to follow the trend. Therefore, you'll want to look out for buying opportunities. Here comes the mind-blowing part. While the S&P 500 rose by 6.1% in the last 3 months, the share price of General Motors soared by 17.1%! That's close to a 3x outperformance! You'll want to analyze this stock further, so let's go!

How Explosive Is General Motors (GM)?

You'll want to discover whether the upmoves of General Motors' shares have been explosive, for your trading capital is utilized well and potentially bring you a high return. To help you, I've marked out the 13 upmoves of its shares. These upmoves range between 4.1% to 37.1%. Can they be considered explosive? Enjoying a massive market capitalization of more than $53b, the magnitude of these upmoves is highly explosive! By buying its shares for a swing trade, your trading capital will work hard for you. Does this mean that you should be buying its shares now?

Key Price Levels

To know whether it's time to buy the shares of General Motors for a swing trade now, let's uncover its key price levels. These key price levels are also known as support and resistance zones where prices will likely turn. Can you see a support area ~$45.50? Because the share price of General Motors is away from its support area, there's a high chance of it returning to ~$45.50 before heading higher. Therefore, you'll want to be patient and wait for that to happen before buying its shares for a swing trade. Here's a tip: You'll want to set a price alert on your broker's platform to be notified so that you can spend precious time with your loved ones. Finally, this is for educational purposes. Please perform your due diligence. All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

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The stock market is full of traps laid out by professional traders. Many new traders are often left confused by conflicting signs and signals. Worse still, ~80% of traders lose money. This is because trading isn't just about skill alone. It includes the mastery of your emotions. But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!