Technical pulse: Ford Motor Co August 29, 2022 173

 

 

Ford Motor Co (NYSE: F) Price is likely to head lower after hitting the downtrend channel resistance as:   

 

  1. The bearish crossover of the faster 5 & 10-day moving averages (MAs) over the slower 20-day moving average (MA) at the downtrend channel resistance area points towards a bearish downside.
  2. Bearish divergence was also observed where price made a higher high at the resistance area while the Relative Strength Index (RSI) technical indicator made a lower high. This discrepancy points towards a bearish downside as momentum is slowing despite the bullish price action.
  3. Price could reach support zone 1 at 13.20-14.00 before heading towards support zone 2 at 10.60-11.70 thereafter.

 

 

*Expected timeline of the trade is 25 weeks from the date of report issuance.

 

CHART LEGEND

 

Red box = Resistance zone

Green box = Support zone

Blue line = 5 day moving average (MA)

 

Orange line = 10 day moving average (MA)

 

Green line = 20 day moving average (MA)

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst
PSR

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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