Honda Daily Chart.

Honda Motor Co. (NYSE:) is extending Wednesday’s powerful breakout. Shares are up more than 2% today as the stock heads for its best weekly close since May, 18, 2018.

Notable: HMC spent April and May trading inside its March range. The stock broke through the top band of this healthy consolidation yesterday.

Despite reaching new 2021 highs, HMC is far from overbought (daily/MACD).

Major support is now in place between $32.00 and $31.50 (March/May highs).

The auto industry is on fire: Ford, GM. And Toyota (NYSE:)? TM has been pushing further into new all-time high territory since early February.

Note: We are long F and GM in some managed accounts.

You can read Gary S. Morrow’s original post here.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here