Thursday 22 December 2016

F - bear flag confirmed

Whilst the broader equity market saw some moderate weakness, there was more significant weakness in Ford (F), which settled -1.9% @ $12.40. The bear flag that spanned the past six days has been confirmed, and the break of the 200dma offers a straight run to the 12.20/00 zone.

F, daily


Suffice to add... today's break lower was kinda expected. Price structure was a rather clear bear flag.. and the fact we broke the 200dma makes the break even more definitive.

Ford should find solid support within the 12.20/00 zone - where the 50dma is lurking.

... and I'll be a buyer there.. for the mid term.