GM is setting up for another nice run towards 40
GM is setting up for another nice run towards 40. As pointed out on my chart, back in October when MFI bottomed out at the 15 mark, it led to a 2 month run to north of $40. Now, once again, MFI have recently reached the 15 mark and also bounced right off of it. This is a strong bullish indication of a move up in stock price.
OBV chart seems to have flatten out and the Accum/Dist chart is showing a slight increase. Meaning we are starting to see some accumulation of GM stocks at slightly higher prices. This is a neutral/small bullish sign for GM. I would like to see a continuing upward trend for both these charts.
Furthermore, according to the classic MACD chart, 12-day line just recently crossed the 26-day line, which is always a good sign for the stock.
OBV chart seems to have flatten out and the Accum/Dist chart is showing a slight increase. Meaning we are starting to see some accumulation of GM stocks at slightly higher prices. This is a neutral/small bullish sign for GM. I would like to see a continuing upward trend for both these charts.
Furthermore, according to the classic MACD chart, 12-day line just recently crossed the 26-day line, which is always a good sign for the stock.
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