Minyan Mailbag: Charting General Motors
When I think of GM, that is exactly what I think of : a rickshaw.
The daily chart of General Motors (GM) has a support trendline right here. What does the Point and Figure look like?
Minyan Rick "Shaw"
Dear Minyan Rick "Shaw" -
When I think of GM, that is exactly what I think of : a rickshaw. I believe that one day in the not-so-distant future, the unwanted steel carcasses of GM four-wheel drive sport utility rickshaws will be converted into stackable low-income housing units. Some things just make too much sense. Meanwhile, GM (and Ford too) is insistent on pursuing its strategy of focusing on large SUVs. Never mind the fact that customers are increasingly desiring something else (and for Socionomic reasons that have little to do with the cost of gasoline).
If the conversion of GM's sport utility rickshaws into low-cost stackable housing units requires the stock to be at 19.50, then the technicals support this. The stock will give a new sell signal (basis .25x3 and .5x3 charts) if it prints 21.50.
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