Ford to aim for $14

Ford is broken out of a long down trend line (since 2014!). Also broke out of a recent $11-12 resistance.

On the Daily chart, it also broke out of a upsloping pennant pattern.

Fundamentally (I'm not a fundamental trader but...), they seems to have some winds going for them as well.

So, target profit 1 is set at $14.

Usually, with such momentum pushing the price it is followed by some rejection as well. And so there will be no target profit 2, and we will evaluate again on future moves.

Disclaimer: I'm not giving any trading and investing advice. Just sharing my chart observations.

If you have any symbols that you'd like me to analyze, feel free to drop me a comment!

Thanks

Note

reaching $14 soon!

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Surge up to $13.62 and come back down!
If today ends up a doji, then chances are this move is done

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Looks to be retracing to test the support of the pennant pattern.
Let's see how it is tomorrow

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Hhmm...so near yet so far.
Don't like the gap down today which gave us an engulfing pattern on the weekly chart.
Will look to get out if there's a bounce up

Note

Not liking the Weekly engulfing pattern, but let's see how it is next week.

Trade closed manually

setup invalidated

leslieyimsm

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leslieyimsm

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