Can General Motors Perform Well the Rest of the Year?
T = Trends for a Stock’s Movement
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. It sells cars and trucks to dealers for consumer retail sales as well as to fleet customers in daily rental car companies, commercial fleet customers, leasing companies, and governments.
General Motors might not want to beat Tesla Motors (NASDAQ:TSLA) outright, but the Detroit Three powerhouse is joining the electric vehicle maker in the race to produce an affordable, long-range electric vehicle. GM recently announced that it is nearly tripling the size of its battery lab in Michigan while the intensity of its focus on electric vehicle production increases. The goal is an affordable EV capable of covering 200 miles on a single charge.
T = Technicals on the Stock Chart Are Strong
General Motors stock has been surging higher in the past couple of years. The stock is currently trading near highs for the year and looks poised to continue. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, General Motors is trading above its rising key averages, which signals neutral to bullish price action in the near-term.