General Motors Wave Analysis – 18 March, 2020
March 18, 2020 @ 16:58 +03:00
- 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.