The share price of General Motors (GM) has nearly been cut in half in the past five months but now the charts are looking more attractive and I may even go out car shopping in the near future. Meanwhile, let's check out the charts and indicators.
In this daily bar chart of GM, below, we can see the decline noted above. Prices are trading below the declining 50-day moving average line and the 200-day moving average line has a negative slope as well. The On-Balance-Volume (OBV) line shows a gentle decline the past 12 months.
The 12-day price momentum study shows a pattern of higher lows from January to May and that creates a bullish divergence when compared to the price action.