Potentially bearish pattern in Ford Motor
Ford Motor has been conspicuously weak since the summer – despite months of the broader market attempting to rally. Now with anxiety spreading toward the economy and financial system, the automaker could be showing signs of continuing lower.
The main pattern on today’s chart is the series of lower highs since August. Each time, the stock has proceeded to hold roughly $11. The result is a descending triangle – a potentially bearish continuation pattern.
That $11 price area could be relevant because it was the level F held in April 2021, shortly before its big electric-vehicle push began.
Next, this chart includes our 2 MA Ratio custom script with the default settings of the 8- and 21-day exponential moving averages (EMAs). Notice how the relationship has remained in negative territory for most of the past month.
Finally, $11.75 could be viewed as a near-term threshold. That was the monthly low in February that F has been unable to reclaim. If prices remain below it, traders may look for a break of the longer-term support.
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Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The main pattern on today’s chart is the series of lower highs since August. Each time, the stock has proceeded to hold roughly $11. The result is a descending triangle – a potentially bearish continuation pattern.
That $11 price area could be relevant because it was the level F held in April 2021, shortly before its big electric-vehicle push began.
Next, this chart includes our 2 MA Ratio custom script with the default settings of the 8- and 21-day exponential moving averages (EMAs). Notice how the relationship has remained in negative territory for most of the past month.
Finally, $11.75 could be viewed as a near-term threshold. That was the monthly low in February that F has been unable to reclaim. If prices remain below it, traders may look for a break of the longer-term support.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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