GM Daily Chart
Although GM formed a double top, it is showing signs of strength at a support level (green bar). If GM goes up in the beginning of next week, it will go up to 40.
GM is close to the upper trendline of the channel. However, it will likely make a fakeout up to 40, where there is resistance from the gap. This will happen around the time GM's earnings are declared.
GM's ride up to 40 will complete the fifth wave. Then it will be a ride down to 32, the next support level.
Although GM formed a double top, it is showing signs of strength at a support level (green bar). If GM goes up in the beginning of next week, it will go up to 40.
GM is close to the upper trendline of the channel. However, it will likely make a fakeout up to 40, where there is resistance from the gap. This will happen around the time GM's earnings are declared.
GM's ride up to 40 will complete the fifth wave. Then it will be a ride down to 32, the next support level.