Strong Reversal For General Motors (NYSE: GM) Says Market Timer Frank Kollar
March 26, 2007
Shares of General Motors (NYSE: GM) declined from a high of $36.59 (close) to a low of $28.81 (close) from early February to last week, when GM made a huge reversal and rallied 11% in only 3 trading days.
GM, which designs, manufactures, and markets vehicles in North America as well as Europe, Latin America, the Mid-East and Asia was at a crucial support level, the prior December 2006 lows, when it reversed. Is this the bottom?
It could be. GM’s reversal on high volume and at logical support likely means continued higher highs can be expected. GM should rally to at least $33.00 to $34.00 a share before resistance is reached.
Fibtimer.com (http://www.fibtimer.com) takes positions in carefully selected stocks and ETFs that meet trending and liquidity requirements.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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