Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
General Motors' stock rose in the intraday levels, scoring a profit of 0.25% in the last session, or 0.09 points, amid negative pressure from the 50-day SMA, with negative signals from the RSI, as the stock settles below 36.73, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 26.69 to 46.76).
Therefore we expect the stock to return lower, targeting the next support at 34.36, which represents the ratio 61.8% of the same retracement levels, as long as it settles below 36.73.
Expected trend for today: Bearish