General Motors Wave Analysis – 1 May, 2020

• General Motors reversed from resistance area
• Likely to fall to 20.55

General Motors recently reversed from the resistance area lying between the resistance level 24.40 (previous reversal high from the start of April), upper daily Bollinger Band and the 50% Fibonacci retracement of the downward impulse from February.

The downward reversal from this resistance area started the active medium-term impulse wave (3).

General Motors is expected to fall further toward the next support level 20.55 (low of the previous impulse wave (1) from last month).