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Ford has a chance to dive into the dumps at this point in time. Many factors are contributing to the recent downtrend we seen since mid-June / July such as tariffs and the major expenditures planned to move the companies focus to its most profitable markets and products. All aside, from a technical perspective I am very interested to see how the support shown is going to hold. The volume show seems to indicate healthy market activity with no anomalies. Thought the last month we have seen weakness for a continued downtrend, it may not be over. Also, I would like to see a hammer candle with appropriate volume at this point to verify a potential reversal or greater interest on the buy side.
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I would appreciate any feedback on a long term and short term basis and conversation around Ford. (Being my first trading idea post information you think is missing that I might look to add in future post)
Best Trading,