Market Snapshots

General Motors Wave Analysis – 9 July, 2020

General Motors Wave Analysis – 9 July, 2020

• General Motors broke key support level 24.00

• Likely to fall to 20.50

General Motors continues to fall inside the impulse wave (iii) – which started previously from the resistance zone lying between the resistance level 26.00 and the lower trendline of the recently broken daily up channel from March.

The price today broke below the key support level 24.00 (low of the previous impulse wave (i)).

General Motors is likely to fall further toward the next support level 20.50 (target price for the completion of the active impulse wave (iii)).

Article Rating