General Motors (GM) Shares Hit All-Time High

As shown on the General Motors (GM) stock chart:
→ During yesterday’s intraday session, the share price climbed above $67.40, surpassing the previous record high set in January 2022.
→ GM was among the top performers on the stock market, rising by around 15%.

The sharp rally followed the company’s strong third-quarter results:
→ Revenue: $48.6 billion (versus analysts’ forecast of $45.0 billion).
→ Earnings per share: $2.80 (consensus forecast: $2.28).
→ Vehicle sales: 710,000 units in Q3, up 8% year-on-year.

Moreover, General Motors Co. delivered an upbeat outlook, stating that continued business optimisation and its decision to scale back electric vehicle production should help improve financial performance in the year ahead.

Technical Analysis of GM Stock

Since 2024, price fluctuations have shaped a rising channel (shown in blue), with the current price moving into its upper half. The rally from the 2025 lows has formed a steeper upward trajectory (solid orange lines), highlighting strong buying momentum.

Further bullish signals include:
→ A decisive bullish gap through the $60 psychological level, which also corresponds to the 2024 peak.
→ The pullback (marked by the blue arrow) occurred on declining trading volumes on the NYSE, suggesting a shortage of selling pressure.
→ The reversal from the $55 level resembles a bear trap, potentially signalling accumulation by institutional investors (see also the Liquidity Grab pattern).

On the other hand, the rapid advance has led to:
→ The RSI indicator entering overbought territory.
→ The price moving above the upper solid orange line.

This leaves GM shares vulnerable to a short-term correction.

However, sustained optimism driven by strong fundamentals could maintain bullish momentum, potentially pushing the price higher towards the following resistance area:
→ The $70 psychological level;
→ The upper boundary of the blue channel;
→ The dashed orange trendline.

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