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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Higher Highs Ahead For Ford Motor Co (NYSE: F)  0 comments
    Sep 19, 2012 3:11 PM | about stocks: F

    September 20, 2012 (By Frank Kollar)

    Shares of Ford Motor Co (NYSE: F) have jumper over ten percent in the last three weeks and appear ready to move higher still.

    Ford has only just begun to to recover from a long term decline that knocked share prices down from $19 a share to $9 a share.

    Shares have put in a double bottom on the weekly chart, with lows at $9.05 on Oct 2, 2011 and again at July 29, 2012 at $9.09.


    Chart Courtesy of StockCharts.com

    Ford will hit its first test of resistance at $10.92. This is the 50% retracement of the entire 2012 decline. If Ford can surpass this level, look for a run up to $11.42, the 61.8% retracement level.

    A close above $11.42 would be a huge breakout for the stock and point shares back towards their 2011 highs.

    The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does not have a position in Ford but could initiate one shortly.

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in F over the next 72 hours.

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