BY LICIA LESLIE
December 22, 2023
Hi Shoppers,
Remember back on December 13th I told General Motors was ready to trade higher?
It was trading $33.50 at the time and two days later it traded $36.32.
Now off that bullish candle it has been flagging, consolidating or as the Japanese say forming a box range:
Once GM busts out of this range, resistance comes in at $38.72, 39.68 and it could possibly revisit its recent high at $40.92.
With the Holidays upon us, I like going out to Jan19 expiration:
The 36.50 calls just over a buck aren’t a bad deal.
Use a close below $35.50 as your stop loss.
Trade Review
Walmart (Ticker: WMT) had a big reversal with Wednesday’s end of day sell off. Could still be bull flagging here. I see support at $153.74.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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