F ends the day on a bullish note closing near the high of the day
Moving higher for the 3rd day in a row, F ended Thursday at 11.46 gaining $0.06 (0.53%) on low volume. Today's closing price of 11.46 marks the highest close since April 27th. Closing above Wednesday's high at 11.40, the market confirms its breakout through the previous session's high having traded $0.08 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Thursday's trading range was $0.10 (0.88%), that's far below last trading month's daily average range of $0.22. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 11.48, the stock closed below it after spiking as high as 11.48 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Further buying could move prices higher should the market test April's close-by high at 11.73.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Ford Motor
|Close to S1 Support||TQ Pro Members Only|
|2 Consecutive Higher Closes||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Bullish Spinning Top||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
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