Ford returns higher - Analysis - 13-06-2018

Ford Motor Company's stock (F) returned higher in the intraday levels, scoring a profit of 0.67% in the last session, or 0.08 points, as the stock readies to tackle the resistance of 12.20, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the short term (from 13.48 to 10.14), with positive pressure from the 50-day SMA, while trading within an ascending correctional short-term price channel. 

Therefore we expect more gains for the stock, especially if the resistance of 12.20, targeting the next one at 12.69, which represents the ratio 76.8% of the same retracement levels.