A couple of days ago I was still skeptical to trade Ford. The stock price was just over its resistance level and I had a feeling that it would drop back again. It proved out to be a false breakout. I expect this stock to breakout this time given that an ascending triangle pattern is present. After this I expect it to continue its upwards direction.
Price...
One could argue that it needs to push up to do a double top but the harmonic pattern argue for a retrace.
So are the RSI and MACD - showing diverges.
It's a weekly chart... keep that in mind. Nothing happens over night here.
I'm still neutral but will becoming more bearish as time goes bye.
Safe trading Gents!
BM
Price target: $19
Stop-loss: $16.50
Ascending triangle is almost complete. Parabolic SAR gives the buy signal. Price is over 20, 50 and 200 SMA's. MACD has an upwards slope. Price is not very far away from the 200 SMA meaning it has alot more potential to go up. I put my price target at $19 because that is the around the price that the stock peaked in 2011. I see...
Ford has been on the rise for a while now and has formed a very good support line. Until this support is strongly broken I would assume the uptrend will continue.
The slow stoch line has been a great indicator of bottoms so don't neglect it.
There is also a strong resistance line around 17.68. I would open a long position if 2 things happen.
1. The price gets...
FORD has a strong uptrend and has finally presented an attractive time to get into this game. If you want to play it safe wait for it to close above 16.75. If it starts moving sideways I will re-evaluate the situation. HAPPY TRADING!!!
Ford is continuing its two week long move upwards. Ignore major fluctuations due to ER (which btw were spectacular!!!!). I am still very bullish on this stock. I think you see upwards movement especially with Dividend and July Sales coming up.
