Ford (F.US), General Motors (GM.US) - shares of both automakers fell 6.8% and 5.4% respectively after UBS downgrade. Investment banks believe that the auto industry is rapidly moving toward vehicle oversupply following three years of unprecedented pricing power.
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General Motors (GM.US) stock launched today's session with a bearish price gap, however buyers are trying to erase losses. Nevertheless as long as price sits above key support at $30.40, another upward impulse may be launched. Source: xStation5