General Motors shares at the peak of popularity in the stock market

General Motors shares surpassed their all-time high and consolidated near it in the stock market. The price did not fall after breaking through this level and drew a fractal, which will serve as a position entry point. If you draw a straight line along with the highs of the growing trend, you will see that the price is moving in the channel and our Take Profit at 67.00 is inside this price channel. This gives us reason to believe that the target in this trade will be achieved. It can also be noted that the price is above the 200 average and the MACD indicator is also above the zero levels without divergence. To open an order with a volume of 100 shares, only 64 USD is needed to maintain margin requirements. The profit can be 260 USD, which is more than 4 times the investment in one trade.

Symbol: GM
Order Type: Pending Order - Buy Stop
Entry Price: 64.40
Take Profit: 67.00
Pips Earning: 260