Hey all, I've posted before on F and the fact that it is repeating a pattern it has made post-2008. The pattern would suggest it is about to fall. Moreover, if you simply look to the blow-off top it had in January of this year, you'd see a similar look as well. Moreover, the stock is stuck in a strong downtrend with bearish context, and I believe the market is due to move lower. I'm currently short on this name with a cost basis just above $16/share, but I think it is still a solid short here; I am in full size on this position. If anything, watch how fall this name can fast when it confirms below $15.15/share- basically the only level holding this stock from freefall.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.