Wednesday, 1 October 2014

F - continuing to slide lower

With the broader market continuing to slide, Ford (F) slipped lower, settling -1.3% @ $14.59. Key support is around $14.30/20... but that should hold in the current cycle. If there is broader market weakness into year end, then Ford looks vulnerable to eventually hitting the low 12s.

Ford, daily


The market has been particularly unhappy about the recent negative outlook, and Ford is now in the process of testing the low from early February.

I'm guessing that will hold in the current down wave, but if the next bounce gets stuck around the 200 day MA - currently around $16, Ford will be in trouble.

After any break of the low $14s, next core support is not until the low $12s, and that is a good 15% lower.