Sunday, October 21, 2012

Ford Trading at Key Level

November 19th will mark the two-year anniversary of Ford's (F) collapse low of $1.26. After a gain of more than 1,250% to $17/share, Ford now finds itself trading at a level that has acted as key resistance multiple times in the past. The shorts are hoping this resistance will be too much for the share price to break through. The bulls are looking for a solid break out in the coming days, which will turn the resistance into a significant support level going forward. If Ford does manage to break above this resistance, the term "Built Ford Tough" should be applied to not only its trucks, but its stock as well.

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