Ford resumes decline - Analysis - 24-05-2016

Ford Motor Company's stock returned lower in the intraday levels, recording a loss of 0.45% in the last session, or 0.06 points, as the stock is hurt by breaching a negative technical pattern's support that formed previously in the short term, the Rising Wedge pattern as shown in the attached chart, with ongoing negative pressure from the SMA for the last 50 days period.  

Therefore we expect more losses to come for the stock, targeting the support of 12.39.