Ford pierces current resistance - Analysis - 15-07-2019

Economies.com
2019-07-15 13:54PM UTC

Ford Motor Company's stock rallied and pierced the important resistance of 10.33, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave (12.14 to 7.41), while trading alongside the upward short-term trend line, with positive support from the 50-day SMA, coupled with positive signals from the RSI. 

 

Therefore we expect more gains for the stock, as long as it settles above 10.33, targeting the next one at 11.02, which represents the ratio 76.4% of the same retracement levels. 

 

Expected trend for today: Bullish 

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