Ford Motor may fall to 7.12 - 7.76

Our pivot point stands at 10.72.

Our preference

The downside prevails as long as 10.72 is resistance.

Alternative scenario

The upside breakout of 10.72 would call for 11.81 and 12.46.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 12.4575 and 12.3002).

Supports and resistances

12.46 **

11.81 *

10.72 **

10.28

9.78 (USD-last)

8.4

7.76 **

7.12 *

6.49 **

Number of asterisks represents the strength of support and resistance levels.