Daily Stock Report

Ford Motor Company - (F) - January 21, 2021 

Ford Motor Company’s (F) relative strength has improved dramatically over the last six months, ending a six-year run in the red zone and driving back up into the Green Favored Zone of the SIA S&P 100 Index Report for the first time since 2014. Ford continues to climb up the rankings, rising another 9 spots yesterday to 8th place. Since we last mentioned Ford in the October 23rd issue of the Daily Stock Report, the shares have gained 32.2% and continue to climb.         

A major breakout is underway in Ford Motor (F) shares which cleared the $10.00 level yesterday for the first time since 2018. This breakout confirms the shares upward momentum remains intact, building on October’s bullish Ascending Triangle breakout over $8.00 and the November snapping a downtrend line near $9.00. 

Measured moves suggest next upside resistance tests may appear near $12.00 then $13.00 on trend. Initial support moves up toward $10.00 from $9.50 both previous resistance levels and active breakout points. 

Since completing a bullish Spread Quadruple Top breakout from a base back in May, Ford Motor (F) shares have been steadily recovering, completing a series of bullish pattern breakouts including a Spread Double Top and Three Double Tops, and snapping out of a three-year downtrend. The shares recently regained the $10.00 level and continue to advance. 

Next potential upside resistance appears in the $11.65 to $12.15 range where several vertical/horizontal counts, plus previous column highs converge, followed by $13.65 based on a horizontal count. Initial support appears near $10.00 where a 3-box reversal, a round number and previous column highs/lows cluster. 

With a bullish SMAX score of 9, Ford is exhibiting near-term strength against the asset classes. 

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