1st off. Ford's momentum is slowing. The 50 day EMA has been a good support. Buying under this has earned great rewards, but what makes this different is the fact that Ford has dropped below this line 5 times since late August. This line is breaking down!
All 3 lines I drew are support with 16.35 being the most meaningful. If this support is broken expect a trend reversal.
The other 2 lines are short-term play lines and only useful for quick turnarounds.
If you feel very bullish then it is under the 50 day and buy, but use a closing price of 16 as your stop.
HAPPY TRADING!
Comments
octradr
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Nearing resistance around 16.50. 1/14 b4 close
octradr
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Trend reversal initiated. 12/19
octradr
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Overall trend is flattening out. 11/18
octradr
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It is holding so far. Buy if it looks like it will close above 17.24. 11/6