Ford pierces current resistance - Analysis - 13-09-2017

Ford Motor Company's stock (F) rallied in the intraday levels, scoring a new profit of 1.58% in the last session, or 0.18 points, as the stock manages to pierce the resistance of 11.54, representing the ratio 38.2% of Fibonacci retracement levels for a descending wave in the short term (from 13.27 to 10.47), with positive pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, as long as it settles above 11.54, targeting the next resistance of 11.87, which represents the ratio 50% of the same retracement levels.