Ford declines within ascending correctional price channel - Analysis - 22-06-2018

Ford Motor Company's stock (F) fell in the intraday levels, registering a loss of 1.35% in the last session, or 0.16 points, as the stock tries to gather momentum to help it rise anew, while trading within an ascending correctional price channel in the short term, and as the RSI reached extremely oversold levels compared to the stock's movements, with positive pressure from the 50-day SMA. 

Therefore we expect the stock to return higher, provided it settles back above 11.81, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 13.48 to 10.14), targeting thereafter the resistance of 12.20, representing the ratio 61.8%.