Ford tries to correct downward trend - Analysis - 10-01-2019

Ford Motor Company's stock rallied 4.18% in the last session, or 0.35 points, while trying to correct the main downward trend in the medium and short terms, as the stock also traded along the trend line as shown in the attached chart, with negative pressure from the 50-day SMA, as the RSI reached overbought levels compared to the stock's movements. 

Therefore we expect the stock to return lower, as long as the resistance of 8.96 holds on, targeting the support of 8.16 anew. 

Expected trend for today: Likely Bearish