Trading Options with an Edge
Select Page

GM Downtrend Break Sets Up Return to Recent Highs

GM Downtrend Break Sets Up Return to Recent Highs

by | Oct 4, 2021 | Chart SetUps

General Motors (GM) shares consolidating in a small bull flag above the rising 8-EMA and monthly value. Shares broke a downtrend from the June highs and room above the August VPOC at $55.80. Shares have been on a strong run since March 2020 and back to the 23.6% Fibonacci of the rally recently. On the weekly, MACD is nearing a bull cross while RSI is near a downtrend break, plenty of room to run.