GM Coiling Beneath Major Weekly Resistance – Breakout Setup Targeting $100?GM continues to respect its long-term ascending channel while trading comfortably above the rising 200-week EMA, keeping the primary trend firmly bullish.After the explosive breakout from the $54 region in late 2025, price entered a multi-month consolidation near the top of its channel. Recent price action shows a tightening structure with higher lows pressing against overhead resistance, suggesting building momentum for a potential breakout attempt.
The most important battleground remains the $84.00-$84.24 resistance zone, which has capped multiple advances since the beginning of 2026. Bulls recently defended the lower trendline and pushed price back above $81.32, keeping upward pressure intact.
Key Levels
Resistance
$84.00-$84.24 (major breakout zone)
$87.62
$96.67
$101.40
Support
$74.90
$70.97
$70.33-$70.75 demand zone
$67.05 (critical support)
Rising channel support
Technical Outlook
The consolidation appears to be forming a bullish continuation structure within a broader rising channel. A decisive weekly close above $84.24 would signal a breakout from the six-month range and could open the door toward $87.62, followed by the upper channel projection near $96.67 and potentially $101.40.
On the downside, failure to hold the lower channel boundary would likely shift focus back toward the $74.90 support area and the $70 demand zone.
For now, the trend remains bullish as long as price continues to print higher lows, respects channel support, and remains above the rising 200-week EMA.
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.