General Motors Wave Analysis – 20 January, 2020

• General Motors reversed from support area
• Likely to rise to 36.00

General Motors recently reversed up from the key support area lying between the support level 34.60 (which has been reversing the price from last October) and the lower weekly Bollinger Band.

The upward reversal from this support area started the previous weekly correction 2 from last November.

Given the strength of the aforementioned support area – General Motors is likely to rise further toward the next resistance 36.00.