The weekly chart says nothing
The daily though has a very bullish pattern, double bottom with divergences on all oscillators, at a very important support area. Secondly, the Weis Wave has a bullish pattern too. I'll explain using the numbered wave labeled on the indicator.
1 - normal selling volume, higher than previous buying waves, but no real progress made.
2 - Bullish change in behavior, the highest buying volume GM saw since May.
3 - Price came back to test the level at which wave 2 started, but you can notice how small this wave is = low volume pullback.
4 - back to green
Look for 35$, and 38$. I believe 38$ is a bit too much, this is not a strong stock. If the impulse becomes red again, this will be a losing trade.
The daily though has a very bullish pattern, double bottom with divergences on all oscillators, at a very important support area. Secondly, the Weis Wave has a bullish pattern too. I'll explain using the numbered wave labeled on the indicator.
1 - normal selling volume, higher than previous buying waves, but no real progress made.
2 - Bullish change in behavior, the highest buying volume GM saw since May.
3 - Price came back to test the level at which wave 2 started, but you can notice how small this wave is = low volume pullback.
4 - back to green
Look for 35$, and 38$. I believe 38$ is a bit too much, this is not a strong stock. If the impulse becomes red again, this will be a losing trade.