General Motors Company comes back upon contact with important technical level that might give impetus to a rebound.
To date, PER for 2016 is estimated at 5.09 and at 4.77 for 2017. The company is valued 0.27 times revenues estimated for this year. This ratio should be taken into consideration by investors.
In the short term, the bearish trend has known a weakening close to the USD 27.28 mid-term support. A new bullish trend is forming toward 20 day moving average at USD 29.5.
Investors can take a long position within the USD 27.28/27.8 area. In the first instance, the target price will be the 20-day moving average at USD 29.49. In case of breakdown of the USD 27.28 support at the closing price, investors should close their positions.