Beware this auto stock that’s headed for more losses, says Carter Worth

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Beware this auto stock that’s headed for more losses, says Carter Worth

(Check out Carter’s worthcharting.com for actionable recommendations and live nightly videos.) General Motors (GM) is judged to be in the throes of a “bullish-to-bearish” reversal, with the prospective completion of the topping-out process implying a move to the $42 +/- level. The two nearly identical charts below tell the tale. Down 22% from its high of three months ago on November 25th, the stock just of late is starting to break trend. Not good. We’re sellers here. Further, the stock’s smoothing mechanism (150-day moving average) just now is inflecting and turning down. Not good. We’re sellers here. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

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