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Ford Motor Co OPTION CALL $15 Sep
What a recovery! While it's parabolic nature, I do believe it has enough upward momentum to reach my listed target.
VOLUME PROFILE (VPVR)
1. The pink Point of Control line (POC) at around $9 is where we find the highest trading volume . Make's sense! This is where we see our COVID sell off and initial resistance before the mega candle teleported us to $11.60's.
2. Volume Area (VA) is centered to the Y-Axis and our chart (Magenta/Blue area). Mmm ...this suggests consolidation; however, our target price and Fibonacci range falls within this region. Which brings me to the next section:
FIBONACCI RETRACEMENT
The fib lines are where I start to gain trading confidence.
1. The first fib line @ .382 brings us to the POC line and first major resistance in Ford's recovery phase. Important to note that if price falls back here-which I find unlikely in the short term-we will probably head down to goblin town
2. The .5 region, which really isn't a fib ratio was torn through by a mega candle and ultimately settled as a local support region. If price were to pull back, $11.00 is the region I'd buy (well, if it closed above $11 on the daily)
3. The .618 region is where things get sporty. Pushing through the mid $12 range and holding support above the .618 should give us a free ride to the .786 and ultimately our $15 strike
THE RESISTANCE
I expect some push back at the two pink, dotted, horizontal lines. There will be selling pressure at these points as seen with recent attempts to push through $12.00. Failure to do so will bring us down support levels of $11.00 (Fib .5).
Spot bids @ current price ($11.60) and $11 would be good entry points IMO.
Let me know what you think
What a recovery! While it's parabolic nature, I do believe it has enough upward momentum to reach my listed target.
VOLUME PROFILE (VPVR)
1. The pink Point of Control line (POC) at around $9 is where we find the highest trading volume . Make's sense! This is where we see our COVID sell off and initial resistance before the mega candle teleported us to $11.60's.
2. Volume Area (VA) is centered to the Y-Axis and our chart (Magenta/Blue area). Mmm ...this suggests consolidation; however, our target price and Fibonacci range falls within this region. Which brings me to the next section:
FIBONACCI RETRACEMENT
The fib lines are where I start to gain trading confidence.
1. The first fib line @ .382 brings us to the POC line and first major resistance in Ford's recovery phase. Important to note that if price falls back here-which I find unlikely in the short term-we will probably head down to goblin town
2. The .5 region, which really isn't a fib ratio was torn through by a mega candle and ultimately settled as a local support region. If price were to pull back, $11.00 is the region I'd buy (well, if it closed above $11 on the daily)
3. The .618 region is where things get sporty. Pushing through the mid $12 range and holding support above the .618 should give us a free ride to the .786 and ultimately our $15 strike
THE RESISTANCE
I expect some push back at the two pink, dotted, horizontal lines. There will be selling pressure at these points as seen with recent attempts to push through $12.00. Failure to do so will bring us down support levels of $11.00 (Fib .5).
Spot bids @ current price ($11.60) and $11 would be good entry points IMO.
Let me know what you think
Comment:
Forgot to add--I published this idea after two members messaged me about the last $F chart. Wanted to clear some things up and fix the strike expiry to one that actually exists
Comments
Thanks for sharing your trade, research, and chart. We've featured it in Editors' Picks! Let's see what others say in the comments. Cheers!
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i have loaded up on ford during each recession and carry a cost basis of around $4.
Never sold this thing, happy to see it pumping up.
Never sold this thing, happy to see it pumping up.
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Thanks for the idea. I would like the PPS to be consistently above the .618 fib, or at lease in the top half of the 50%. Thanks again great idea.
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I'm pretty happy about my Ford stock. I bought it last year some time and I'm up about 30%. Showing a little more volatility lately but the trend is upwards. Stop losses are in place but haven't hit yet. I took profit at 30% and reinvested. Hoping to see great gains this year. Thanks for the great analysis. Best wishes trading.
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@harpazo happy to hear you took some off the top. Many of us tend to forget the goal of trading is to make money, not the hope of making money.
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I've been quite curious about Ford, not jumped in as it's a little dull compared to other potentials, I think many are thinking the same.
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40-50% of my portfolio is roughly ford (depending on how other stuff is doing), pretty excited for this year and hopeful about news about partial involvement with usps contract. Primary strikes are june 15c and january '22 10c. Lets see the return of Detroit through EV conversion
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