Wednesday 21 December 2016

F - a little cooling

Whilst the broader market traded moderately lower, there was significant weakness in Ford (F), which settled -1.1% @ $12.64. Short term price structure is threatening a bear flag, but that would only be confirmed with a break of the 200dma in the low 12.50s... and that won't be easy.

F, daily

F, monthly


Suffice to add, Ford looks vulnerable in the short term, but seen on the bigger monthly cycle, an eventual break above declining resistance into the $14s appears due.

Any price action >14 offers a straight run to core multi-year resistance of $16.

Any monthly close >$16 would offer far higher levels, to at least 23/25. That would clearly take a considerable time though... late 2017 at the earliest.