Million

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>GM stock price has been down since the start of this July.&nbsp;</a></li>
 <li><span>2</span> <a>Warren Buffet has been pretty active in GM stock.&nbsp;</a></li>
 <li><span>3</span> <a>The stock trend is negative, however, a trend reversal in price action is created.</a></li>
</ul>
<p>The EVs rose to prominence in the US with the the markets going to a record high of 7.87% as per research firm, Kelley Blue Book (KBB). The deals of EVs in the US have arrived at a tipping point, with deals crossing 313K last year. This denotes an almost 50% increment from a similar period last year. The EV market’s CAGR is close to 55% all around the globe at the press time.</p>
<h2 class="wp-block-heading" id="strong-warrant-buffet-s-interest-in-general-motors-strong"><strong>Warrant Buffet’s Interest in General Motors</strong></h2>
<p>As the EV market fundamentals are rising, the graphs of the EV stocks are also becoming volatile. General Motors (NYSE: GM) is one of the famous names in the segment.&nbsp; Warren Buffet, one of the popular investors, has also been very active in the last decade.</p>
<p>In August 2020, he purchased more than 5 Million shares which added to his previous holdings of the stock. During the bullish rally from September 2020 to June 2021, Warren reportedly sold more than 21 Million shares through his firm, Berkshire Hathaway&nbsp;</p>
<p>The GM stock price, however, has been down since making its high of $67.21 in January 2022. The stock fell to its rock bottom during mid-July, where it reached a low of $30.36.&nbsp;</p>
<p>The bulls and the bears confronted each other for a whole year till August 2023 which resulted in a sideways trend. Recently, the GM stock price broke a significant support level of $33.2, causing it to fall further to its current levels.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-gm-stock-price-strong"><strong>Technical Analysis and Prediction of the GM Stock Price</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/8fMUIcxWJItgp3dBaVMsWtCH2IHFB2zolsXzYjxrUQGROHg0BPRgyGIWSDKkVrszlkks0mnCC-Ok19lQuic-IsGjZ5lGPCn2ET9cdNhy1SaTo-zNBufuMVdjxrFbSb24cP-eeTVgOkeLP7NR5TWeloQ" alt="GM Stock Price: Monday Morning Greens Ahead, See When to Buy">
  <figcaption class="wp-element-caption"><a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3AGM" rel="noopener noreferrer nofollow">NYSE: GM Stock Chart by Tradingview </a>
  </figcaption>
 </figure>
</div>
<p>At the press time, GM <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" rel="noopener noreferrer nofollow">stock price</a> is currently trading at the level of $27.22 after the stock fell last Friday. However, the stock is on a shallow support level of $27.1, which means that there is a chance of trend reversal if the bulls can reclaim this support level.</p>
<p>Therefore, if the bulls can reclaim this support level, they are likely to move toward their immediate resistance of $31.25. Moreover, the 50-day EMA is at $31.7 while the 150-day EMA is at $34.19, depicting a bearish momentum. The RSI, on the other hand, is below its oversold level of 30, which shows a bullish weakness. In addition to that, it’s an indication that the stock can reverse from here.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>General Motors (NYSE: GM) stock has been very active in Warren Buffet’s portfolio since the last decade. As the EV market is rising, the volatility in EV stocks has increased as well. GM stock price is experiencing a bearish trend but the prediction is bullish.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $27 and $23</li>
 <li><strong>Resistance Levels: </strong>$32 and $36</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

GM Stock Price: Monday Morning Greens Ahead, See When to Buy

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Thecoinrepublic.com

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