General Motors Wave Analysis – 12 November, 2021

• General Motors broke round resistance level 60.00

• Likely to rise to resistance level 64.00                                                                    

General Motors recently broke the round resistance level 60.00 (which has been reversing the price from the start of July, as can be seen below).

The breakout of the resistance level 60.00 accelerated the active short-term impulse wave (iii) of the higher order impulse waves 3 and (C).

Given the clear daily uptrend, General Motors can be expected to rise further toward the next resistance level 64.00 (pervious multi-month high form June).