Ford rallies - Analysis - 07-06-2023

Ford stock's (F) surged in the intraday levels after piercing the main downward trend line in the medium term, while buoyed by trading above the 50-day SMA, coupled with positive signals from the RSI despite settling at overbought saturation levels, with the stock marking a profit of 2.7% in the last session, or 34 cents, and settling at 12.93. 

Therefore we expect more gains for the stock, targeting the resistance of 13.90, provided the initial resistance of 13.00 was breached.

Expected trend for today: Bullish