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Short Trade: General Motors Company (GM) – 33.96

Best Trading

Trade Details:

Selling pressure with negative market sentiment from the upper resistance band.
Trade only if it crosses below our entry price of 33.93
It may break its 200 EMA support after which it may go down.
There is a trendline below on which it may take support and consolidate.
This is the 3rd time it has been reversed from the upper resistance area.
RSI is also in a negative trend.
Trail your stop loss at entry when it touches the trendline support area on charts.
Risk Reward 1:3

Trade, SL, and Target –

Entry = 33.93

Stop Loss = 34.22

Target = 33.05

Please note: There is a support of trendline below, it may bounce from there so trail your SL accordingly.

Trendline breakout above 55 levels
Bouncing back from the lower support area after the formation of a double bottom pattern on hourly charts.
You can hold this trade for more than a day if the overall market sentiment is positive.
RSI also gives a breakout above 46 levels.
Continuous increase in volume from last 4-5 days which is also an additional bullish sign.
Trail your stop loss at entry price, if it crosses 56
Risk Reward = 1:3

Entry = 55.33

Stop Loss = 54.78

Target = 57

Please note: This is the high probability trade if it hits SL in the first try you can enter again with the same levels.

This is the third time the stock has been reversed from the upper resistance zone.
It is trading in a channel which is also a good pattern to trade.
The below horizontal line on the charts is support of this stock and it may fall around 255 levels.
RSI is also in a downtrend and goes below 50.
Strictly follow the Stoploss and Target and trail your stop loss at cost if the price touches 260.
Risk Reward = 1:3+

Entry = 262.66

Stop Loss = 264.78

Target = 255.65

Please note: Trade with strict SL and if it opens GAP UP, wait to trigger the entry price.

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