On Wednesday, General Motors got an upgrade to its Relative Strength (RS) Rating, from 77 to 81.
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This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Decades of market research reveals that the best stocks typically have an 80 or better RS Rating in the early stages of their moves.
General Motors is now considered extended and out of buy range after clearing a 53.96 buy point in a second-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
General Motors posted negative growth for both the top and bottom lines last quarter.
General Motors earns the No. 3 rank among its peers in the Auto Manufacturers industry group. Ferrari is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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