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Registered User
Joined: 1/17/2005
Posts: 1
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Just looking at the chart for Ford, wondering if any of the chart reading gurus out there would agree with me that this is developing a classic double bottom? Coming out of a long downtrend with a top in the middle and some positive volume for the last few days. But maybe the time span between the 'bottoms' is too short?
With Monday being the ex-div date, I'm wondering if there might be another price dip representing a buying opportunity before the chart pattern continues to unfold.
Any thoughts?
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Registered User
Joined: 10/7/2004
Posts: 2,126
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I have been trading and following Ford. It may be rewarding to wait for the dividend date to see further action of price. There is strong support at about 5.89, and even stronger at about 4.4. The weekly shows a strong ROC positive divergence, but still under the 0 line. Stochs are breaking the 20 line. It may be bound for an increase in the near future. But the long term trend is clearly down. You can certainly make money in those small up rallies while downtrending if you are afraid of shorting, or it just isn't your thing. The daily is showing different charateristics, and today's hammer - well I would need a little more follow up to go long on this one.
Remember the Summere rally hasn't happened yet, so if it does it could give you a nice opportunity to ride up.
For the correction I do not think is over just yet, and more discounted prices may be here before you know.
good luck.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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By the way I do not see any W bottom developing just yet in either montly, weekly or daily frames.
good luck
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Registered User
Joined: 1/27/2005
Posts: 8
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more than 15 Indicators, can't find a positive one
Reasearch all you want, no hope
I am caught up in the auto industry collaspe
I want it back more than anyone
but, have given up on Ford
GM maybe
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