Good Morning Stockhoppers, The major indexes are looking pretty good today. It looks like the Dow will bounce off the 13 day ema. 11000 is definetly in sight now. Take a look at the Dow chart. It went down to the 21day ema yesterday to move bounce back above the 13day ema, this morning it went to the 13 day ema and looks to be ready to move upward.
As you all know I follow Ford stock very closely. I have made many dollars following the ups and downs of Ford(mostly ups here lately)but I would be very cautious of purchasing this stock and if I currently owned it, I would be watching very closely as I feel it could retreat here within the next few trading sessions. The Reason, simple, the 13 day ema has just crossed downward across the 21 day ema.
Another reason is that during the recent market up days Ford has not been rebounding as it should. Use today for example. Market is up around 35pts, Ford is barely hanging on to gains, around .04. That shows weakness. I will stick with my recent prediction that Ford stock will see 12.25 with the next stop being around 12.00.
Hope all your trades are profitable and until next time....Happy Stock Charting!!
Your article is always useful.
ReplyDeleteThanks.