Ford, a Popular American AutoMaker has been having a struggling stock performance since its 2021 rally. This stock has continued to rally upwards and melt back down towards this $11-$12 area. What we are witnessing now is a retest of these same levels that previously sent the stock back upwards with volume.
I am keeping my eye on Ford at these levels as historically this stock bounces from this demand zone. This demand zone is heavy, as highlighted in green, and will also be having support from a diagonal trendline around the $11.40 level helping support prices of $F.
With this large area for support considering the Demand Zone & the diagonal trendline retest, I believe that this area of price levels gives a solid Risk/Reward Entry on a Long Position on $F.
A break below this trendline would be a good exit point, as the stock could probably dump underneath heavily. With this Risk/Reward entry point, a swing position can be attractive or a LT entry. I am just pointing out these levels, as I think it can be an interesting area to watch the stock react to, and thought I'd share!
Happy Trading!
I am keeping my eye on Ford at these levels as historically this stock bounces from this demand zone. This demand zone is heavy, as highlighted in green, and will also be having support from a diagonal trendline around the $11.40 level helping support prices of $F.
With this large area for support considering the Demand Zone & the diagonal trendline retest, I believe that this area of price levels gives a solid Risk/Reward Entry on a Long Position on $F.
A break below this trendline would be a good exit point, as the stock could probably dump underneath heavily. With this Risk/Reward entry point, a swing position can be attractive or a LT entry. I am just pointing out these levels, as I think it can be an interesting area to watch the stock react to, and thought I'd share!
Happy Trading!