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)