We have Ford releasing earnings after close on Thursday. In the meantime the chart is of interest. last week we printed a weekly bearish Key Reversal / Engulfing Candle. How much of that is down to sentiment, and how much down to pre-earnings plays? I suspect its more the former rather than the latter.
All automotive firms have been engulfed by the negative sentiment around the recent challenges in the US auto loans debacles. The question is: is it enough to drag Ford down further, or is it merely a temporary blip that offers a long term buying option? Personally seeing price squeezed between two moving averages is normally the calm before the storm - its price coiling up before it makes its next move. Can Fords earnings be the catalyst that pushes price higher? Or do the numbers disappoint and we drift lower on overall negative sentiment?
All automotive firms have been engulfed by the negative sentiment around the recent challenges in the US auto loans debacles. The question is: is it enough to drag Ford down further, or is it merely a temporary blip that offers a long term buying option? Personally seeing price squeezed between two moving averages is normally the calm before the storm - its price coiling up before it makes its next move. Can Fords earnings be the catalyst that pushes price higher? Or do the numbers disappoint and we drift lower on overall negative sentiment?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.