General Motors Shares Near Collapse

Today (Monday) it has been announced that some brokers smashed the price target of General Motors (GM), something that shocked the market over the trading session. Deutsche Bank (DB) does not believe in the viability of General Motors; the investment bank predicts the collapse of what is the largest U.S. carmaker. Accordingly, they recommended investors to “sell” shares, evaluating each company’s title at … zero dollars.

Chart courtesy of stockcharts ( click to enlarge )

On the other hand, Barclays (BCS) also revised its estimates for GM, reducing the recommendation to “equal weight”, with a “target” of a dollar. The Government helped some banks and other companies in the recent past, but now is taking too long time to save one of the most important car makers in history, which could put in danger a huge number of jobs around the world. This is really dangerous for the entire economy and particularly for the carmaker industry. Establishing a new 52-week low today, shares of General Motors shed a quarter of its value or $1 , closing at $3.36. The stock is below $4 and technically there is no support further.

Chart courtesy of stockcharts ( click to enlarge )

Apple (AAPL) - The stock has been on a major downtrend in the recent weeks. A drop to the $90-92 range appears likely. Only a close above $100.62 will turn the bias bullish.

Chart courtesy of stockcharts ( click to enlarge )

The Children’s Place Retail Stores (PLCE) - The stock is now below $25.02 so we may see it now at $20.56 level. Any close below this strong support will extend the losses further. Technically, the stock is down trending but may be finding a base here around $20.50/share.

Chart courtesy of stockcharts ( click to enlarge )

Mosaic (MOS) - After bottoming in the 24s, MOS is reflecting a daily downside divergence, although technicians argue a developing Inverted head and shoulders pattern . For now, expect a run up to $40 area.

Disclaimer: Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

Subscribe by RSS Subscribe by Email