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.