Wednesday, 12 October 2016

F - battling to hold support

Whilst the broader market closed moderately mixed, there was notable relative weakness in Ford (F), which settled -0.2% @ $11.96. Any daily closes <11.90 would be provisionally bearish, and open the door to the Feb' low of $10.78.

F, daily

F, monthly


Suffice to add... its an extremely borderline situation.

I like Ford across mid/long term, but until it can close back above the $14 threshold, its somewhat suspect. More broadly, the hyper-bulls need to see a monthly close >$16 to really be confident.