Stock of the day: Ford

In today’s article, we’re taking a look at another carmaker. We’ve already analyzed Tesla and Ferrari, now it’s time for Ford.

Sentiment on Ford is currently rather negative and we’re writing this analysis because it may get even worse, or at least that’s what the technical analysis is suggesting.

Let’s see.  The price has been on a downtrend since the beginning of June. In the longer term, it may just look like a correction but you can see that it’s the third month already, and still counting.

The price managed to fall below the crucial horizontal support on the 13.5 USD (yellow), which at the same time is a 23,6% Fibonacci. What’s more is that we broke the long-term up trendline (blue), which is pretty self-explanatory.

The current situation promotes sellers. It’s difficult to be a seller in a great bull market though. We need to be prepared for an upswing as well. The negative sentiment on Ford will be canceled when the price goes to the green square, so it’ll break 3 crucial resistances. As long as we stay below, the bears can sleep peacefully.