General Motors collects profits - Analysis - 14-10-2021

General Motors' stock (GM) fell 2.02% in the last session on profit-taking, while gathering positive momentum to help it rise anew, as the stock vented off overbought saturation in the RSI, settling at 57.77, while hurt by exiting a descending price channel that guided recent short-term trading, with positive pressure from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the pivotal resistance of 64.00, provided the support of 53.50 holds on.

Expected trend for today: Bullish