Tuesday, April 30, 2019 7:46:07 PM
Fords jump on earnings last week has increased speculation that GM may follow in its footsteps. Looking at the long term chart the trend would be higher but faces strong resistance at $41.50 - $42 , until that level breaks on considerable volume we are not convinced. Ford took some radical moves over the last year to cut costs, reduce inventory and product ranges that were low margin. GM however is trying to be all things to all men, this may be critical on the earnings report and effect profit margins. Automotive is going to face shrinkage in the decades to come and innovation will be the winner long term, it is a very difficult sector to invest in with conviction.
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