General Motors exhausts positive chances - Analysis - 12-05-2021

General Motors' stock (GM) fell in the intraday levels, with negative signals from the RSI, after reaching overbought levels, while trespassing the support of the 50-day SMA, exposing it to negative pressure, while seeking a bottom to bounce it higher, while gathering momentum to help it rise anew, as it vented off overbought saturation, thereafter leaning on the main upward medium-term line. 

Therefore we expect the stock to return higher, targeting the pivotal resistance of 62.00, provided the support of 54.47 holds on. 

Expected trend for today: Bullish