General Motors attacks current resistance - Analysis - 17-01-2019

Economies.com
2019-01-17 12:59PM UTC

General Motors' stock rose 0.32% in the last session, or 0.12 points, attacking the resistance of 37.78, which represents the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (From 45.00 to 30.56), with positive support from the 50-day SMA, while the RSI reached overbought levels. 

 

Therefore we expect more gains for the stock, especially if the resistance of 37.78 was breached, targeting the next one at 39.48, which represents the ratio 61.8% of the same retracement levels. 

 

Expected trend for today: Bullish  

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