Tuesday, 12 August 2014

F - minor gains on a down day

Whilst the broader market was moderately weak across the day, there was notable resilience in Ford (F), settling higher by 0.2% @ $17.20. Near term outlook is bullish, with a reasonable opportunity to challenge the recent high of $17.99

F, daily


Price structure since the mid July high is a large bull flag.. and today was a pretty clear breakout.

Yes, the daily candle was a touch bearish with the spiky top, but considering the main market weakness...it looks okay.

If the main market can break into the sp'2000s by mid/late September, Ford should be somewhat higher. A break into the 18s will open up the next big psy' level of $20.