Even though there is not any real historical data for GM, keen chartists can start with the 1-minute and 5-minute charts for the first technical signals. On the 5-min chart, GM is clearly in a downtrend as it trades below the trendline extending down from 10:45AM. This trendline and the small consolidation mark resistance around 34.4-34.6. In mission impossible style, this commentary will self-destruct in 10 seconds. 10,9,8,7...
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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