Monday 3 June 2013

F - battling towards the $18s

With the main indexes climbing into the close, Ford (F) closed +1.2% @ $15.88. Primary upside target is the peak from Jan'2011 - the low $18s. Baring a major down turn in the main market, Ford looks set for another 15% higher before the next wave lower.


F, daily


Summary

Yet another higher close for Ford, and it was an impressive close, after weakness earlier in the day.

With the main equity market seemingly now stabilising in the sp'1620s, Ford looks set to remain in what is a very strong...and consistent up channel.

Primary target is $18, which would appear very viable by late July.

*if the main market gets whacked (for whatever reason) in late summer, then the obvious pull back would be to the old resistance of $14.00.