Ford_(NYSE:F)_March_11_2018

Ford along with GM and FCA are known as the big three and is synonymous with the American Automotive Industry. Since being founded by Henry Ford in the early 1900's Ford has lasted a century braving through the ups and downs of history.

During the Great Recession of 2008, Ford was the only automaker to have not filed for bankruptcy, giving credence to their management team and strong leadership culture. However, since reaching a high of about $18 in 2013-2014, the stock price has been in a steady decline. Last year when the entire world economy was bullish, the Ford stock kept edging lower finally finding support around $10.

Currently, it seems that the stock is experiencing some upside as confirmed by the bullish channel pattern that has formed over the last few months. The short moving average (50 day) is approaching the long moving average (200 day) in a bullish manner. However, the factory fire resulting in complete shutdown of the F150 production has dented the pattern somewhat. I think, Ford may be a long based on the current pattern. Although, I want to confirm that the support formed by the lower bound of the channel holds in the next few days. If that holds, the stock may rise upto $12 as indicated by the Fib Analysis. The coming few days will tell how good/ bad the situation is.
advisacorpautomobileFibonacciFORDnyseParallel ChannelSupport and Resistance

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