Thursday, 2 January 2014

F - bear flag on the daily chart

Whilst the main market saw moderate weakness to begin the year, Ford (F), managed a fractional gain of 0.06% @ $15.44. Price structure looks to be a pretty clear bear flag, with downside to the 14.30/00 zone within the next few weeks.

Ford, daily


It sure looks like a bear flag on the daily charts. Baring a few daily closes above the 200MA, currently @ $15.78, Ford looks set for another wave lower..probably to the low 14s.

Mid/long term outlook, still appears fine into mid/late 2015, with upside (at least) to the $28/32 zone