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GM Approaching Key Resistance

Companies / US Auto's May 16, 2011 - 10:23 AM GMT

By: Mike_Paulenoff

A very positive article in Barron's over the weekend has goosed General Motors (GM) a bit this morning, which is climbing towards a confrontation with key near-term resistance at 31.55/60.

If that supply plateau is hurdled and sustained, GM should follow through to 32.25/35 next.

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By Mike Paulenoff

Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions.

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