I have recorded a video-analysis for Ford Motor (F), a widely followed and highly participated stock traded on the NYSE. Hereunder is my video review:
The stock has long-term support at around 10 and recently such support broke the sequence of measured moves short on the weekly timeframe. On the larger timeframe bullish Program Trading and bulls professional traders are firmly in control. On the other side of things Program Trading sees resistance at the 13.80 area.
On the smaller daily timeframe we can clearly see a sequence of measured moves long started at August lows. The close support levels are at 10.45 with a first target at 12.10. There is also inner support to which we have witnessed participation starting from Friday afternoon. This support level is at 11.00 with a target at 12. Today price is following up on that initial participation we witnessed at the end of last week.
I do not expect price to come back to retest the 11 support area, but rather a continuation from present prices, so it is important to participate on the long side from the current levels with a stop below 10.85-80. I also don’t see anything at the moment stopping price from reaching the 13.90 resistance level, a profit taking level too.
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