The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. General Motors Company shares valued at $627,153 were sold by Harvey Rory on Aug 26 ’24. At $49.02 per share, Harvey Rory sold 12,795 shares. The insider’s holdings dropped to 8,513 shares worth approximately $0.42 million following the completion of this transaction.
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Also, Harvey Rory sold 2,302 shares, netting a total of over 108,908 in proceeds. Following the sale of shares at $47.31 each, the insider now holds 10,356 shares.
Before that, RORY HARVEY had added 12,795 shares to its account. In a trade valued at $627,169, the Officer bought General Motors Company shares for $49.02 each.
As published in a research note from DZ Bank on October 11, 2024, General Motors Company [GM] has been rated down from a Buy to a Hold and the price target has been revised to $49. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in late September. As of September 23, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for GM.
Analyzing GM Stock Performance
During the last five days, there has been a surge of approximately 2.25%. Over the course of the year, General Motors Company shares have jumped approximately 36.44%. Shares of the company reached a 52-week high of $50.50 on 07/18/24 and a 52-week low of $34.32 on 01/18/24. A 50-day SMA is recorded $46.58, while a 200-day SMA reached $43.68. Nevertheless, trading volume fell to 10.15 million shares from 12.53 million shares the previous day.
Support And Resistance Levels for General Motors Company (GM)
According to the 24-hour chart, there is a support level at 48.49, which, if violated, would cause prices to drop to 47.97. In the upper region, resistance lies at 49.40. The next price resistance is at 49.78. RSI (Relative Strength Index) is 61.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.88, which suggests the price will increase in the coming days. Percent R is at 4.90%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
