Despite the Transports index settling higher by a significant 1.2% @ 8510, it was another dowdy day for Ford (F), settling -0.4% @ $15.20. Near term outlook is for continued weak chop, with broader downside to the low $13s.. if the broader market sees a sig' correction this summer/early autumn.
F, daily
F, monthly
Summary
Little to add.
If the main market rolls lower at some point this summer, there looks to be viable downside to at least the Oct' low around $13.
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Long term outlook is bullish to the mid $20s by 2017, especially if rates begin to rise later this year.
