Good Morning Stockhoppers and what a good morning it is turning out to be for the major markets and our spot light stock.....Ford, As I told you in a rare afternoon blog, that I bought 700 shares of Ford stock at 13.77 and it was tuned up for another good day today...well it is doing just that. As of this blog it is up near its high of the day around 14.14. What do we need to watch for now? Lets take a look at the Ford stock chart above. Notice that it is reaching a short term resistance level. So depending on your trading strategy, you may want to watch closely to see if it will bust through this resistance or bounce off resistance and pull back and rest before it makes its next push.
Notice the 21 day exponential moving average. It has flat lined which may mean a little pull back. The good news look at the 13 day exponential moving average,it is getting ready to cross up,over the 21 day EMA,very bullish signal here.
Now just as importantly lets take a look at the Dow Jones Industrial Average. Its is moving along nicely up the 13 day and 21 day exponential moving averages. Notice in the chart above that it is running into a little short term resistance at around 11150. Very similar chart to that of Ford. Overall market looks steady and strong.
I hope all your trades are are going great! and until next time....Study the Charts!!
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