- GM rose above its steep 2022 downtrend line in July. GM was down 55% from its January high to its July low and is still down 37% year to date. A 2-day decline puts GM right at support from its new 1-month uptrend line. The weekly shows that GM bounced from a critical long-term support level in July, which should give investors confidence that this rally will continue.
RRG analysis shows that GM is in the Improving quadrant and headed toward the leading quadrant. GM was one of the Top 20 stocks out of the Russell 1000 in this week’s TPA-RRG report.
Relative Rotation Graphs (RRG) – explanation video
