Ford Bearish Daily Chart Setup
Ford Motor Company (NYSE:F) is forming a bearish daily chart. This classic action tells investors the stock will likely fall in the near future. Notice the sideways action ever since the top on July 15th and the sharp drop on July 16th, 2013. This inside bar action is known as a bearish formation. The current price of Ford is $16.96, +0.20 (1.19%). Downside targets would be at $16.00 and $14.50. The pattern would fail with any close above the 52 week high of $17.29.
Gareth Soloway
InThemoneyStocks.com
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.