Ford Motor (F) was reviewed last week. I noted that "F has shown some improvement over the past two months but it doesn't look like a sustained rise is ready to begin." (Auto stocks are also on Jim Cramer's mind this morning.) F is pushing above its March zenith this morning so another visit to the chart showroom is needed.
In this daily bar chart of F, below, we can see that prices are making a new high for the move up and are besting the March peak. The 50-day moving average line line is turning from down to flat and the declining 200-day moving average line could be tested and maybe broken soon. The daily On-Balance-Volume (OBV) line continues to improve from its early February turning point. The Moving Average Convergence Divergence (MACD) oscillator has moved above the zero line for an outright go long signal.
In this weekly bar chart of F, below, we see some slight improvement from last week. Prices are still below the flat 40-week moving average line but a test of the line is now closer. The weekly OBV line continues to inch up and the MACD oscillator on this time frame is close to a crossover and cover shorts buy signal.
This Point and Figure chart of F has the same bull and bear triggers. A rally to $13.50 is an upside breakout and a decline to $10.00 would be bearish.
Bottom line -- F is showing improvement but the larger, major trend (see the weekly chart above) is still down and more base-building is needed.