Trade idea for General Motors Company (NYSE)

#GM

The general trend is ascendant. The descendant wave structure is truncated. The support level of 47.62 restrains sellers. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trade idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss is under the support level of 47.62.

Target levels: 55.45; 65.00.