Trading idea for General Motors Company (NYSE)

General Motors Company (NYSE)

#GM

The trend is bearish. The stock is trading between the 365 EMA and the 135 EMA. The bullish wave patterns are truncated. The Awesome Oscillator shows bearish divergence, while the Stochastic Oscillator indicates overbought conditions.

Trading Idea:

Sell upon the formation of a bearish wave pattern where wave (A) breaks the trendline of the bullish truncated pattern.

Place the Stop Loss above the local high of the bullish truncated pattern.

Target levels: 80.00; 78.10.