General Motors, GM, Short Term Bear, RetracementI am not licensed or certified by any individual or institution to give financial advice. I am not a professional Stock trader.
I just published an idea regarding General Motors which covers a slightly different angle of the same idea I'll publish here. I won't go into as much detail with this one. This one is in line format and the other one is in candlestick format to show two different perspectives. I have this in line to show a couple Triple Tops which are a little difficult for me to identify in candlesticks. I see a Head and Shoulder pattern which I have marked with orange arrows; and the Triple Tops I see are marked with red arrows. I didn't want to put too much clutter on here but you can also drawn a down trending line from October 24, 2017 to November 2017 (the 20th, 21st, and 28th are the tops for that month) to January 2018 (the first Triple Top marked with red arrows) to this month (the second Triple Top marked with red arrows). If you need help seeing it let me know and I can publish another chart with just that. For more of a detailed description see my previous post from this same day about GM. Also, to alleviate some confusion I marked the 200 Day Exponential Moving Average (EMA) more clearly in this post. So, to recap, a Head and Shoulder, a Down Trend forming with lower highs since last October, two different Triple Tops, and multiple EMAs forming resistance (covered briefly in my other post, which if I do it right the link will be below; but it's my first time trying that so let me know if it works or not). In my amateur opinion, that is a lot of Bearish signals.
