General Motors Stock Price Hits new High

Source: Dukascopy Bank SA


On Thursday, the price for GM stock reached the 62.15 USD level and booked a new all-time high level.

From a technical perspective, the price broke the previous all-time high on its fourth attempt. Afterwards a new high was booked last Friday before retracing back down. The prior high was confirmed as support and the most recent surge started.

From a fundamental analysis perspective, the most recent surge was caused by the news that US safety regulators decided not to further investigate an issue with 778,000 car steering wheels. Prior to that, a two day decline could be attributed to the announcement that pick-up trucks would have less functions due to the global chip shortage.
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