- 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
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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