GM, F and TSLA Forecast – US Automakers Down in Premarket Trading

GM Technical Analysis

General Motors looks like it’s going to open the session down a bit as we have seen quite a bit of noisy behavior pre-market due to the tariffs that were announced by Donald Trump. Ultimately, I think you’ve got a situation where you have to be very cautious here, but this could end up being a buying opportunity before it’s all said and done.

A little bit of stability goes a long way here, and if General Motors can hang on to the $45 level, it’s very possible we may see things turn around. It’ll be interesting to see how it plays out, but keep in mind that we do have an earnings call on the 29th of April. So, the market may get a little squirrely on the way there as well.

F Technical Analysis

Ford is down in pre-market trading, but not drastically. So, this might be a sneak type of trade to take to the upside if we do, in fact, see automakers do better against the tariffs than originally thought. After all, most of these US-based companies just need to produce in America. That’s really all it would take, instead of some of the plants that they have in Mexico. Now, obviously there is a certain amount of cost involved in moving some of your production from Ontario and Mexico to the United States, but these are companies that are definitely able to do it.

TSLA Technical Analysis

And finally, Tesla is down again in pre-market trading, but we’ve been in a very strange pattern here where it looks like we are doing everything we can to try to find some type of bottom in this market that has been sold off so drastically. I think longer term players are out there picking up shares of Tesla because I can’t tell you how many times I’ve heard that Tesla was going to be left for dead, only to see it turn around and rally, yet again.

I think a lot of traders out there are waiting to see whether or not that ends up being the case. For what it’s worth, volume is picking up. So that could be a sign of accumulation as well.