Ford in trouble, looking clear to short.
Updated
I have been watching Ford since Jan 15 and the bears have been having a field day. The recent trend is a further confirmation Ford is in short term trouble. The news at end of day of the Mach-E being a fine electric vehicle, but lackluster compared to Tesla, was a big blow to them. Their earning's call in early 2019 banked their future on the electric products and the end of 2019 Q4 call said they were "proud and encouraged," by the interest in the new Mustang Mach-E. The lack of early numbers being disclosed and the first early reviews doing their best to find positive lead me to believe it's going to struggle.
The Stoch RSI has been a mostly good indicator on this stock, with the triple peaks and sharp peaks going above 80 signaling sharp price falls. It does provide a warning though that previous peaks within the 80-40 range were followed buy small price rises, but other instances show it falling dramatically as well
The fundamentals scream sell, the TA shows sell, and the 1H and 15 min charts show the end of day news did little to bolster the stock price. Next level of support is 7.81, looking good to short to there or a little higher to guarantee fill. My personal range is provided in the chart. My detractors would be:
Please leave any feedback on this analysis and let me know what could be more heplful (More SnR levels, more explanations on graph, more description, etc.)
The Stoch RSI has been a mostly good indicator on this stock, with the triple peaks and sharp peaks going above 80 signaling sharp price falls. It does provide a warning though that previous peaks within the 80-40 range were followed buy small price rises, but other instances show it falling dramatically as well
The fundamentals scream sell, the TA shows sell, and the 1H and 15 min charts show the end of day news did little to bolster the stock price. Next level of support is 7.81, looking good to short to there or a little higher to guarantee fill. My personal range is provided in the chart. My detractors would be:
- Stoch RSI at similar points has been followed by spikes down, but also occasionally small spikes up. Would like to see the peak come down above 80 like the other clearer signals.
- Mach-E only had one early review, as the official articles and videos come out it could cause a price jump.
- The two other times the Squeeze Momentum indicator had this much selling pressure, it was followed by small price hikes before falling again. Could trigger Stop Loss
Please leave any feedback on this analysis and let me know what could be more heplful (More SnR levels, more explanations on graph, more description, etc.)
Trade closed: target reached
The shits fell my dudes. 7.80 pre market. It is a sharp decline the last two weeks so I would be more cautious about shorting again, as a mild correction is overdue. Coronavirus shaking everyone up, including Ford, and once market picks up overall Ford should benefit as well. Exit your positions and re-enter after intra-day correction.
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