Wednesday, 18 December 2013

F - snaps lower on reduced outlook

Whilst the main market soared after the uncertainly of QE-taper was removed, Ford (F) snapped lower on a reduced outlook for 2014. Ford settled -6.3% @ $15.64..with a close just below the key 200 day MA. Near term weakness to the low $14s is expected.

Ford, daily


With a lowered outlook, the possibility of the 18s..even 20s is now off the table for at least another few months.

The break below the 200 day MA is pretty important, and the next level of support is the obvious zone in the low $14s.

If the 14s can hold in the current down wave..then upside to the upper teens by late spring 2014 is still viable.