GM, Building Massive Formation, These Levels Are Important!

Hi my friends,

Welcome to this analysis about the stock value GM , we are looking at the 4-hour chart, I noticed a divergence between the traditional car-industry stock like GM at the moment and the new electronic cars TSLA , while TSLA going down GM went up the last days. This is an interesting divergence worth to look nearer in, nevertheless, overall GM was one of the weaker stocks since the corona breakdowns and lows established, it is still trading below its all-time-high where others made already new highs and risings, therefore I detected the important levels and possible outcomes for this stock we should consider at the moment.

Looking at my chart you can watch there this huge blue trading channel the stock is trading in, furthermore, it has an established wave-count where it recently completed wave A and B to now form the major wave C in the structure, this wave will run into resistance as the stock still has above in the upper boundary coming together with the black falling resistance line marked in my chart, when the stock approaches this cluster in red there is a higher possibility given for a bearish confirmation to the downside, setting up the next wave D in the wave-count, this can lead to the back-up-zone marked in blue in my chart and a set up for the final wave E which will complete the overall wave-count, this last wave will be highly crucial as it has the potential to confirm the channel the stock is trading in as a bear-flag, this scenario will occur when the stock comes into the zone of the lower boundary anew and closes below it which will cause highly bearish pressure to the downside and activation of lower levels within a high possible spectrum.

The next times will show how the stock will continue with its eave-count and when there is a end, technically speaking as the stock is one of the weaker stocks trading below the previous established high, the bearish scenario should not be kept by side as it will confirm when the wave-count ends and crushes below the lower boundary as mentioned. This is currently the most likely scenario to come across with however there is a smaller possibility given that it will invalidate which will happen when the stock manages to hold the lower boundary sustainably and moves above the wave-count to form a new high.

In this manner, thank you for watching, support for more market insight, good day to you and all the best!
"There are many roads to prosperity, but one must be taken."

Information provided is only educational and should not be used to take action in the markets.
✔ Telegram:

✔ Instagram:

✔ Twitter:

✔ Join The Elite: @Vince_Prince

✔ "The key to success is to focus on goals, not obstacles."


VincePrince PolarHusk
@PolarHusk, Thank you
My idea about
VincePrince Russslayer
@Russslayer, Thanks for sharing
VincePrince Russslayer
@Russslayer, Great view
Post your comments, questions, and ideas about GM here.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out