Wednesday, 4 September 2013

F - rising on good sales data

With the main market building gains across the day, Ford (F) excelled on impressive broader vehicle sales data. Ford closed +3.5% @ $16.91. Near term trend is bullish, but there will be strong resistance in the low $17s.

F, daily


Ford continues to be one of the stronger stocks out there, although with the main market looking somewhat of a problem into Oct/Nov, Ford might need to merely consolidate for a few months.

There is strong possibility of a double top in the next day or two. If Ford can't break the mid $17s..then first downside will be 16.25/00.

If the main market does rollover into the autumn, then the bigger target for Ford will be the mid $14s, where the 200 day MA will be lurking.