Since the beginning of the year General Motors has started doing healthy bullish things on its chart.
We have another uptrend that is in play, and if the trend holds we can look for a retest of the $60.30 resistance level. A break and hold above that level could send us 15% to the upside to the top of the channel.
***Also, please be aware that the current market is fueled with uncertainty at the moment, so a breaking of this uptrend is very much possible. Until then, however, we assume GM remains in the trend until it doesn't.
If the trend breaks, we have our stop losses at $57.43 and the final line in the sand at $55.82.
We have another uptrend that is in play, and if the trend holds we can look for a retest of the $60.30 resistance level. A break and hold above that level could send us 15% to the upside to the top of the channel.
***Also, please be aware that the current market is fueled with uncertainty at the moment, so a breaking of this uptrend is very much possible. Until then, however, we assume GM remains in the trend until it doesn't.
If the trend breaks, we have our stop losses at $57.43 and the final line in the sand at $55.82.