Ford ($F): Continued Downside Toward Discount Territory

Ford Motor Company has had a spectacular run up since the lows of March 2020. The company value appreciated 600% in the months after COVID was first announced and lockdowns started. Two years later, and it appears F has made a high at 25.87 and broken bullish market structure below 18.60.

I am looking at continued down side to 15.50 followed by retracement back to 20.00 level before downside continues to fairer value. My short objectives are 15.50, 12.40, 11.15 and 9.50 price levels.

Comment:

F gapped lower to 16.00 level on time as predicted.

Comment:

Target 1 reached at 15.50$ and within the timeframe outlined. Looking for a further move lower to 12.30$ level as next target.