After receiving those COVID bucks that propelled its stock into a nice uptrend, GM spent most of 2021 in a distribution stage, forming an M-top pattern. The price entered a downtrend in February '22 and finally found support in July '22. The price entered a sideways range, initially resembling a rising wedge but later developing into a sideways channel. Now price finds itself at the support level of this channel for the fourth time now. It's important to note that the more a support level is touched, the weaker it becomes. Additionally, it is currently under both the 50 and 200 EMA (Exponential Moving Average)