Charting Of General Motors

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Charting Of General Motors

By John Lee on September 30, 2008 | More Posts By John Lee | Author's Website

A reader asked me to analyze General Motors (GM). Although I do believe the $25 billion in loans that got approved will help automakers in the long-term, the short-term doesn’t look pretty.

The $9-$10 support level was critical. It was, “was” because GM completely broke through it. This is bad because I looked at a chart that goes back to 1970 and this level here was the absolute last support level for GM.

You might get employee discounts on GM cars, but now is not a good time to buy the stock.

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1 Comment :

Comment by Chris

2008-09-30 12:55:42

Bonds are trading as low as $250 a share, not a good sign.

Reply to this comment

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