General Motors Company GM shares are trading lower by $0.85 (1.6 percent) at $37.38 in Monday's session. In a case of sell the news, investors are exiting the issue after the much-anticipated sale of its Opel/Vauxhall subsidiary to PSA Group was officially announced.
Off the open, GM's stock appeared to be breaking out to the upside as it reached its highest level ($38.55) since March 2015, when it peaked at $38.99. However, it turned out to be another failed move in the $38.00 area as it had done nearly a dozen times in 2017.
The ensuing decline found support in between the pair of lows from March 1 ($37.18) and March 2 ($37.25), finding support at $37.20. At this time, the rebound off that low has been capped at $37.51.
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