General Motors faces strong resistance - Analysis - 29-11-2019

Economies.com
2019-11-29 13:23PM UTC

General Motors' stock retested the pivotal resistance at 36.22, representing the ratio 50% of Fibonacci retracement levels for an ascending wave, with negative pressure from the 50-day SMA, while the RSI reached overbought levels. 

 

Therefore we expect the stock to return lower, targeting the next support at 34.88, representing the ratio 61.8% of the same retracement levels. 

 

Expected trend for today: Bearish 

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