GM - Will the general lead again?

• Price sitting at the confluence of 200 DMA and 60 VMA. If it continues to build above, likely tests the upper range of this channel and set up nicely for a breakout.
  
• Upside targets: 41, 47, 54
  
• Bear case: loss of 200 DMA could bring this down to the bottom of the channel to around 31.
  
• Disclosure: no position yet.
  

Trade active:

Playing out perfectly. Now should see another pullback at 38 and pivot there for higher move to 40.
Support now 37.5 (Buy here)