Since September 19, 2022, Ford Motor Company shares have been trading in a range between USD 11.20 and USD 14.60. The strike that took place in October 2023 led to a breakdown of the lower boundary of the range, resulting in a low of 9.63 USD. The settlement of the conflict led to the return of the price to the trading range, and on February 12, 2024, the shares were trading at 12.68 USD.
The return of quotes to the trading range indicates a high probability of price growth to its upper limit at 14.60 USD. An additional signal in favor of rising stock prices is the Head and Shoulders pattern. The breakdown of the “Neck” line has already taken place. If the resistance at 14.60 USD is overcome, the stock may rise to the next resistance at 16.50 USD.
The return of quotes to the trading range indicates a high probability of price growth to its upper limit at 14.60 USD. An additional signal in favor of rising stock prices is the Head and Shoulders pattern. The breakdown of the “Neck” line has already taken place. If the resistance at 14.60 USD is overcome, the stock may rise to the next resistance at 16.50 USD.