Daily Stock Report

Ford Motor Company - (F) - August 12, 2022

After spending the spring in the red zone of the SIA S&P 100 Index Report, Fort Motor Company (F) shares have soared back up the rankings in the last month, climbing 81 positions to 3rd place. Since returning to the Green Favored Zone last month, the shares have gained 7.8%. 

Last month, Ford Motor Company (F) decisively broke out of a six-month downtrend. Since then the shares have been under renewed accumulation. Currently it appears that the shares may be in the middle of a flag pattern. In July F spiked up from near $12.50 toward $16.00 on a surge in volume and since then it has been consolidating between there and $15.00 support. A breakout over $16.00 would signal the start of the second rally phase of the flag pattern. 

Potential upside resistance appears near the boundaries of a February gap near $18.00 and $19.50, the latter of which coincides with a measured move for the flag, and then the $20.00 round number. 

Back in July a downtrend in Ford Motor Company (F) shares was contained by support near $11.00 which dates back to 2021. Since then, the shares have been on a tear, soaring up toward $16.00 without even a 3-box correction along the way. Along the way, F has completed bullish Double Top and Spread Double Top breakouts and established a high Pole. 

Next potential upside resistance on trend appears near $18.00, based om a previous column high, then $19.05 based on the convergence of a previous column low and a horizontal count. Initial support appears near $14.45 based on a 3-box reversal.  

With a bullish SMAX score of 9, F is exhibiting strength against the asset classes.   

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.