Ford readies to breach current support - Analysis - 21-08-2019

Ford Motor Company's stock fell while hovering around the support of 8.98, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 7.41 to 10.55), while venting off oversold saturation recently in the RSI, amid negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, especially if the support of 8.98 was breached, targeting the next one at 8.61. 

Expected trend for today: Bearish