General Motors Company (GM) 

General Motors Co. is an automobile company, which develops, manufactures and markets cars, trucks and parts worldwide.

The technical chart setup is detailed and explained below.

CHART 1: GENERAL MOTORS CO.

Technical Pattern: Inverse head and shoulders with prices trading above the 200 day moving average.

Signal: Breakout from neckline resistance three trading days ago. Friday’s candle shows a rejection of the neckline resistance which has now turned to support.

My Trade Strategy: to go long on the open of the market provided the price open’s above $36.00 with my stop loss just under the 200 day moving average (approx $35.20)

Happy Trading

Flavio