General Motors (GM) is in a bearish mode after completing a price top in 2017. Price found support from a rising trendline earlier in April. However, a negative reversal signal should have warned us that another low was coming.General Motors (GM) Daily Chart(click to enlarge)Negative Reversal:- The RSI Guru, Andrew Cardwell describes a negative reversal as the combination of a higher high in the RSI but a lower low in price action.- The premise is that the market is already bearish, and the RSI has tagged 30.- This signal means that while the market has slowed down the downtrend, there is potentially another low ahead.- The daily chart shows a textbook case of the negative reversal, which was established last Friday, April 28.Now What?- The bearish price action suggested by the negative reversal has already materialized.- The question is whether there will be further extension downwards towards the psychological level of 30. - If price approaches 30, it will also be tested by a rising trendline support.- I would stay on the sidelines on GM, unless it does fall towards 30. - If price stalls at or just above 30, we can anticipate a strong rebound. In this scenario, we should have a conservative outlook towards 33.50-34, and not more than 35. This bullish outlook would still be within the context of a bearish correction.