#GeneralMotors recently announced that the company will roll out a new marketing campaign to underscore its commitment and renewed efforts to accelerate the mass adoption of electric vehicles (EVs).
Amid the heightening climate-change concerns, investors are constantly looking out for companies proving green transportation solutions. Auto giants like Tesla, Ford and Volkswagen have been head strong in their transition to EVs.
In order to capitalize on the trending EV race, General Motors has unveiled this marketing campaign aimed at reflecting its commitment to the production and sale of EVs. The campaign will be initially rolled out in the United States and then the global markets.
General Motors has always been at the forefront of the automotive revolution and is focused on its vision of an all-electric future.
The latest campaign and brand identity marks the beginning of a new era in the company’s history. The automaker is now equipped with solutions, capability, technology and scale to put everything needed to expedite its transition to EVs. In fact, the revamped brand identity and campaign are designed to reiterate its commitment to EVs and convince Wall Street, influencers, dealers, employees, and early adopters that the company is truly dedicated to an electrified future.
With two new EVs expected to be launched by the end of 2021, hopefully the New Year will kick-start a fresh chapter for General Motors, triggered by its new campaign and remodeled brand identity.
General Motors closed up 1.950 at 45.010. Volume was 71% above average (neutral) and Bollinger Bands were 41% narrower than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
General Motors is currently 46.6% above its 200-period moving average and is in a downward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of General Motors at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bearish on General Motors and have had this outlook for the last 17 periods.
Overall, the bias in prices is: Upwards.
A big white candle occurred.
This is generally considered bullish, as prices closed significantly higher than they opened.
If the candle appears when prices are “low,” it may be the first sign of a bottom.
If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support.
Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles.
During the past 50 bars, there have been 24 white candles and 25 black candles for a net of 1 black candles.
An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body).
The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with General Motors), it may be a last engulfing top which indicates a top.
The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.
