ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

General Motors Stock Just Revved Up to New 10-Year Highs

  • General Motors (GM) hit a new 10-year high in Monday morning trading.
  • The automaker has strong technical momentum here.
  • Shares have a 100% “Buy” technical opinion from Barchart and shares are up 32% over the past year.
  • Fundamentals call for an earnings rebound next year and price targets go up to $100. 

Today’s Featured Stock

Valued at $68.58 billion, auto giant General Motors (GM) has had a long and checkered history. 

The company rose to dominate the U.S. industry. However, hit by the financial crisis, General Motors filed for bankruptcy. However, within a few months, the firm emerged from bankruptcy. The company is stepping up to embrace an electric future and gain a strong foothold in the fast-growing market. The firm’s own modular battery platform, the Ultium Drive system, will aid in the transition to an all-electric portfolio. 

 

General Motors and its strategic partners produce, sell, and service cars, trucks, and parts under four core brands: Chevrolet, Buick, GMC, and Cadillac. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. GM checks those boxes. Since the Trend Seeker signaled a new “Buy” on Oct. 22, the stock has gained 9.09%.

www.barchart.com

Barchart Technical Indicators for General Motors

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

General Motors hit a 10-year high of $73.89 in morning trading on Dec. 1.

  • GM has a Weighted Alpha of +53.86.
  • General Motors has a 100% “Buy” opinion from Barchart.
  • The stock gained 32.13% over the past year.
  • GM has its Trend Seeker “Buy” signal intact.
  • The stock recently traded at $73.81 with a 50-day moving average of $65.05.
  • General Motors has made 12 new highs and gained 6.31% in the last month.
  • Relative Strength Index (RSI) is at 69.97.
  • There’s a technical support level around $73.00.

Don’t Forget the Fundamentals

  • $68.58 billion market capitalization.
  • Revenue is projected to decrease 1.02% this year but increase again by 0.30% next year.
  • Earnings are estimated to decrease 3.47% this year but increase again by 11.19% next year.

Analyst and Investor Sentiment on General Motors

I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping stock, it’s hard to make money swimming against the tide.

It looks like Wall Street and individual investors like this stock.

  • The Wall Street analysts tracked by Barchart have issued 14 “Strong Buys,” 2 
    “Moderate Buys,” 10 “Holds,” and 3 “Sell” opinions on the stock with price targets between $41 and $100.
  • Value Line rates the stock “Highest” with 3 to5-year price targets between $65 and $95.
  • CFRA’s MarketScope Advisor rates it a “Buy” with a price target of $78.
  • Morningstar thinks even with the stock’s recent runup, it’s fairly valued with a price target of $80.
  • 2,868 investors following the stock on Motley Fool think it will beat the market while 1,069 think it won't.
  • 248,150 investors monitor the stock on Seeking Alpha, which rates the stock a “Strong Buy.”

The Bottom Line on General Motors

Seeking Alpha sums it up: “GM showcases strong valuation and profitability, supported by solid momentum and favorable analyst revisions, making it a compelling buy. However, some growth metrics lag behind, warranting continued observation.”

Today’s Chart of the Day was written by Jim Van MeertenRead previous editions of the daily newsletter here.

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.


On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

 

More news from Barchart

Recent Quotes

View More
Symbol Price Change (%)
AMZN  228.89
-3.49 (-1.50%)
AAPL  281.42
-2.73 (-0.96%)
AMD  215.35
-2.25 (-1.03%)
BAC  54.55
+0.45 (0.84%)
GOOG  317.04
-3.58 (-1.12%)
META  666.17
+26.57 (4.15%)
MSFT  478.15
+0.42 (0.09%)
NVDA  181.09
+1.50 (0.84%)
ORCL  207.65
-0.08 (-0.04%)
TSLA  451.88
+5.14 (1.15%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.