F unable to break through key resistance level
Ford Motor (F) Technical Analysis Report for Apr 16, 2018
F ended Monday at 11.38 gaining $0.10 (0.89%) on low volume. Trading up to $0.09 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Monday's trading range was $0.18 (1.58%), that's below last trading month's daily average range of $0.25. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Unable to break through the key technical resistance level at 11.44, Ford Motor closed below it after spiking as high as 11.45 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. The stock found buyers again today around 11.27 for the third trading day in a row after having found demand at 11.23 in the previous session and at 11.25 two days ago. After spiking up to 11.45 during the day, the market found resistance at the 200-day moving average at 11.43.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Buying might speed up should prices move above the close-by swing high at 11.54 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 11.23 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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