Ford
FI'd like to be bullish on Ford but I'm just not sure. I'm looking at Ford as a long term play so I'm using monthly candles here.
From 68' to 98' (30yrs) Ford made solid progress, only to decline in value for the next 10yrs reaching all time lows in 2008 coinciding with the crash of 08'.
Ford has been in a bear market since Sept. 2014 after retesting the July 2013 RSI high of 69.6 and printing a lower high RSI of 65 while price printed a double top - So it's been quite some time and RSI has now reached lows of 32 which hasn't been seen since 08'.
Stoch is turning up and heading northbound on the weekly while reaching into oversold territory on the monthly, which is likely to rebound as long as price finds enough support here around the ~$10 range and bulls show up with some buying force driving price up to retest resistance at ~$14. After ~$14 there isn't much resistance until ~$22.
Another thing I'm taking into consideration is the fact that Ford recently made the decision to end production of 5 or 6 sedan models which should decrease overhead, leaving them with more cashflow to help with production and partnerships, etc.
Then again, I can see Ford falling flat for another decade while losing an additional 50% of its value as they become irrelevant in the electric vehicle era. Maybe price would then dictate that they shift focus and change their strategies to compete in the electric vehicle industry. At this point I'm just postulating hypothetical scenarios, so I'll stop right here.
Let me know what you think. *This is not financial advice; never has been financial advice, never will be financial advice.
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