I like to trade against these KEY LEVELS and enter AFTER have been released and the stock revisits the KEY LEVEL. If you rally INTO the Key level then it is RESISTANCE. If it falls down TO the Key level then it is support.
Risk is 1 average range on the other side of the key level.
Upside is to the high of the rally prior to the retest of the Key level.
32.50 is also a level of LOW which is "massive resistance".
Why didn't it trade any at 32.50? Because there was a huge seller there and it drove it down under that price. The first time back to it you will see a meaningful reaction.
11:32AM Friday April 8, 2016
GM 29.48 last, 28.50 stop, 32.50 target.