Harmonic targets for General Motors (GM) share
General Motors share has been able to breach through the sloping resistance line appearing on the weekly chart whereas it succeeded in retesting it before inching higher again to stabilize around 37.35 regions.
Potential targets for the connected harmonic Crab patterns reside at 42.50 levels after stabilizing above the neckline of the bigger pattern.
Corrective actions are awaited from 42.00 levels which meet 1.618 Fibonacci of the bigger BC leg.
Assessing indicators, positivity is still appearing on RSI and MACD above moving averages, which support our outlook targeting the PRZ, while 46.50 could be the target of the bigger harmonic picture.
Stop loss should be placed below 33.41 region.