GM's Recent Rally Will Falter Says TheStreet's Technical Analyst

TheStreet's technical analyst Bruce Kamich believes the recent rally in shares of General Motors (GM) will falter. Kamich said GM stock has twice rallied during the past few weeks to the $36 level, but GM has failed to hold gains in the $36 to $39 area after hitting that range earlier this year. Kamich also pointed out that a three-year weekly chart of GM shows an even bigger band of resistance. He said rallies have failed in the $36 to $42 area going back to early 2013. By looking at the slow stochastic indicator, Kamich finds that the 40-week moving average is flat and prices are overbought. Kamich writes articles for The Street's Real Money.