GM long idea: General Motors a buy at 33 look for 42

The auto industry has been clobbered due to Trade Wars.
China just released some news about reducing tarrifs on US cars going into China.
GM has a huge portion of its market in China, so now is the time to long it.

Technially, this asset this key fib levels on the way down, and bounced where it should have.
Now the bounce has retraced to a perfect spot that should serve as support