General “Government” Motors tested major $34-$34.30 support this morning.
On the updated daily chart, below, note the potential major topping still in play dating back to last summer. Although the stock has been a tricky short, considering buyers have vigorously defended $34 in recent months, the chart remains vulnerable. If bears can finally crack $34 on a closing basis, I expect a move down into the $20’s.
Also keep an eye on BID breaking down today.
What are you trading this morning?
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On Feb. 26th I posted this …
“if NTLS loses the $15 level … it could go much LOWER ! imo”
NTLS … YIKES !!!
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Good call, alf.
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about a 15.6% move lower … from that post ! fwiw
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