Wednesday, 4 January 2017

F - another push to break declining trend

Whilst the main market saw a second day of broad gains, there was very significant upside in Ford (F), which settled higher by a powerful 4.6% @ $13.67. Near term outlook is bullish, with a basic mid term target of $16 by the summer. Any monthly close >16 offers hyper upside to 23/25.

F, daily

F, monthly


Last Friday saw the main market help drag Ford down to a low of $12.08... having cooled from $13.20.

Its taken Ford just two trading days to break back into the low $13s.

There are multiple aspects of resistance in the low $13s.. not least as seen on the giant monthly cycle.

Any price action >13.50 will be decisive enough to clarify further upside to the $14 threshold. Any daily closes in the $14s will offer a fast run to multi-year resistance of the $16 threshold.