Note how the dried on each successive price decline. This is a setup, especially now that the price has advanced to the high end of where the sellers started selling. The triangle breakout is a positive, but it could slip back in the next few sessions and test the gap. I want to be a buyer of GM on pull-backs to $26 and $25.50. Risk down $24.80. Time frame for this trade is 1 month, as outlined.
By: Technical Tim, April 2, 2012 12:18PM EST