CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

General Motors

Market Opportunities - 03/02/2021

03 February, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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

UP

Resistance 3

63.00

Resistance 2

60.00

Resistance 1

57.00

Support 1

49.50

Support 2

47.00

Support 3

44.00

Example of calculation base on weekly trend direction for 1.00 Lot*

General Motors

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

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

Share It With Your Network
GENERAL MOTORS Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now