Users: moneymiser21: Ford_Monthly_Daily_May012015.jpg

Ford_Monthly_Daily_May012015.jpg

Poor auto sales numbers today put Ford on bear watch. 

Monthly chart shows Ford failing to hold trade above $17.50 since the low in 2008. And it could not reach a 50% retracement from the April 1999 high. 

The daily chart shows Price rejecting downtrend line off the July 2014 high. 

A daily close beneath $15.68 (red dotted line) would confirm the bear pressure increase, and short potential. 

Target #1 would be the gap at 15.27. 

Target #2 $14.50, just above the support zone that begins at 14.46. 

If the larger monthly downtrend holds, $12.50 is in play.

Comments

moneymiser21moneymiser21
Update May 20th. 
 
target one was achieved. 
 
Now for t2 5/20/15
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