Shares of Ford Motor Co (NYSE: F) Hit
Resistance Says Market Timer Frank Kollar
February 10, 2010 (FinancialWire) (By Frank Kollar)
Shares of Ford Motor Co (NYSE: F) reached their highs,
at just above $12.00 on January 11. Since that date they
have made a series of lower highs on each rally attempt.
On the downside, shares have stopped at about $10.40 a
share on each sell off.
If you draw a line through the declining highs and also
through the two sell off bottoms, you get a pennant formation
with a declining trend resistance line and a horizontal
trend support line.
On of these lines will be broken in coming days and usually,
the direction of the break will forecast the direction
of share prices over the coming weeks and possibly months.
Traders should be watching for a close either above $11.40
as a potential breakout leading to a rally, or below about
$10.40 as a potential break to the downside leading to
further losses.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com)
which offers market timing strategies for S&P and
Nasdaq index fund traders, as well as bond, gold, small
cap, sector, ETF and stock trading strategies.
Kollar’s research has shown
that the financial markets are in tradable trends approximately
80 percent of the time. FibTimer strategies define trends
and trade them in both advancing and declining markets.
Caring nothing about what newscasters say or what the
latest economic indicator predicts, trends are where
the profits are, and that is where FibTimer is.
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for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
