Shares of General Motors (GM) turned bullish in 2016 after a couple years of choppy bearish consolidation as we can see on the weekly chart below. General Motors (GM) Weekly Chart(click to enlarge)Bullish Breakout:- The weekly chart shows the bullish breakout above a falling trendline.- The RSI tagging 70 indicates that the market initiated bullish momentum. - We then see that price has been consolidating after the bullish breakout.- This week price is approaching the recent consolidation high around 38.35. General Motors (GM) Daily Chart 3/3(click to enlarge)Bullish Signals:- The daily chart reflects a bullish market.- Price has been trading above the 200- and 100-day simple moving averages (SMAs). These moving averages are also sloping up and in bullish alignment (100-day SMA above the 200-day SMA). - Furthermore the daily RSI has pushed above 70 and has been holding above 40. This shows maintenance of the bullish momentum.- Finally, price action within the current consolidation range shows bullish bias.- Price not closing the gap and returning to range support at and below 35.00 is a sign that bulls are taking charge.Because all signals point north at the moment, I would expect price to be able to break the 38.40 resistance pivot and open up the 41.85 high from 2013.