I recently published an idea stating I was on General Motors because I saw a rolling pattern. If, after , it continued up I would buy a play. It did, kind of, and I bought a Call option on Friday as I saw the stock price rising. However, as I continued watching GM it was not able to maintain those highs and instead fell on higher than the previous day. This was a signal so I sold my Call a couple hours after I had purchased it and took a loss. After looking at General Motors again and realizing the S&P 500 was also unable to maintain a high I purchased a Put option in GM . I have this chart set to so you can see the falling price and inability to maintain highs over the past couple days; however, I will also publish a follow up to this in line format because I think it will be easier to see the patterns. I have marked one of the patterns I see, and that is the Head and Shoulder pattern. Another reason I think GM has gone , at least short term, is due to almost all the Exponential Moving Averages (EMAs) being above the closing price; and on top of that (no pun intended) they may also be acting as resistance. The 200 Day is sitting around $40.00ish (I have the line itself orange, and the horizontal support line where it may hit is purple). We'll see if that is enough to catch it or not. I still have the lines drawn showing what I thought was a rolling resistance and support because they still are good lines (in my opinion) and GM may eventually bounce back and forth between them again; only time will tell.
There was a Gap back in September 22-25, 2017 and the Stock used that a support on February 05, 2018. More signals, to me, are the lower highs from October of 2017 to current; as well as multiple Triple Tops, but I think those are easier to see in line rather than . The Market as a whole seems to be slightly erratic at the moment so if this doesn't pan out it may be best to just take a step back and until something more definite comes along.