Market Snapshots

General Motors Wave Analysis – 18 March, 2020

General Motors Wave Analysis – 18 March, 2020
  • General Motors falling inside impulse waves 3 and (3).
  • Likely to fall to 18.00 and 15.00

General Motors has been under bearish pressure lately following the earlier breakout of the key support level 24.75 (former multi-month low from 2015).

The breakout of the support level 24.75 was preceded by the breakout of the wide weekly down channel from 2017 – which accelerated the active impulse waves 3 and (3).

General Motors is likely to fall further toward the next support level 18.00 – the breakout of which can lead to further losses toward 15,00.

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