General Motors weekly uptrend opportunity based On 1.00 Lot Calculation:
- General Motors is one of America’s oldest auto manufacturers. It produces and sells its products around the world, including China. It makes cars and trucks under multiple brand names including Cadillac, Chevrolet, Buick, GMC, Holden, Baojun, and Wuling.
- EVENT: General Motors is scheduled to report its 4th Quarter Earnings on February 10th, before the American market opens. GM is expected to earn $1.65 per share and have $35.19 billion of revenue. Its quarterly earnings have beat analysts’ estimates 8 of the last 8 quarters, and its quarterly revenue has beat analysts’ estimates 7 out of the last 8 quarters.
- General Motors is entering the Electric Vehicle (Self-Driving) market too. The company owns 85% of self-driving car company Cruise. Cruise tests and develops autonomous car technology. Cruise is currently testing a driverless vehicle in California that contains no human controls and is intended to be used for ride hailing services like Uber. General Motors will work together with Microsoft after Microsoft itself invested $2 billion in Cruise.
- EVENT: General Motors will hold a conference call, shortly after its earnings are released, on February 10th at 4:00 PM GMT and it may highlight its relationship with Cruise and its plans for EV production moving forward.
General Motors, (#GM) February 03, 2021
Current Price: 53.00
General Motors |
Weekly |
Trend direction |
|
63.00 |
|
60.00 |
|
57.00 |
|
49.50 |
|
47.00 |
|
44.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
General Motors |
||||||
Pivot Points |
||||||
Profit or loss in $ |
10,000.00 |
7,000.00 |
4,000.00 |
-3,500.00 |
-6,000.00 |
-9,000.00 |
Profit or loss in €** |
8,319.12 |
5,823.39 |
3,327.65 |
-2,911.69 |
-4,991.47 |
-7,487.21 |
Profit or loss in £** |
7,325.26 |
5,127.68 |
2,930.10 |
-2,563.84 |
-4,395.15 |
-6,592.73 |
Profit or loss in C$** |
12,795.50 |
8,956.85 |
5,118.20 |
4,478.43 |
-7,677.30 |
-11,515.95 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 13:59 (GMT) 03/02/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail