WATING for bottom to form, and then LONG setup opportunities
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Lets see what happens once its below 13.00 which was support now resistance. 10, 11, 12,13, 15, ..18 are all VERY strong fib. numbers. I suspect once its below 13 Ford will reach 12, and if 12 doesn't offer support it will go to 11...meanwhile in full accumulation mode. Fundamentally there is no reason for this selloff and IMHO will bounce back very strong once the overly pessimistic are done selling there shares.
IMHO. May be an opportunity for a swing trade, but trading range does not smell re-accumulation. Add to that the market looks weak. Ready to begin a measured move down IMHO.
wolffarchitecture
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@skoutas, Lets see what happens once its below 13.00 which was support now resistance.
10, 11, 12,13, 15, ..18 are all VERY strong fib. numbers. I suspect once its below 13 Ford will reach 12, and if 12 doesn't offer support it will go to 11...meanwhile in full accumulation mode.
Fundamentally there is no reason for this selloff and IMHO will bounce back very strong once the overly pessimistic are done selling there shares.