Ford Motor Co ( F) has been around since 1903, and it's a household name when it comes to Americans who are thinking about cars and trucks. I am not sure Henry Ford would recognize the company today.
Let's check out the charts and indicators.
In this daily bar chart of F, below, I see a bearish picture. Prices have been making lower highs since last March - lower highs in August, November and early February. Roughly equal lows have been seen in June, October, December and now in March. The trading volume pattern is mixed - sometimes you see volume increasing on a rally (bullish) and sometimes volume increases on a decline (bearish).
The On-Balance-Volume (OBV) line has moved up and down with the price action the past year. The Moving Average Convergence Divergence (MACD) oscillator is bearish.
In this weekly Japanese candlestick chart of F, below, I see a weak looking chart. Prices are in a downtrend and trade below the bearish 40-week moving average line. I do not see a bottom reversal pattern and I fail to see lower shadows.
The weekly OBV line shows a downward path from early 2022. The MACD oscillator is in a bearish alignment.
In this daily Point and Figure chart of F, below, I can see that the software yields an upside price target around $13.
In this weekly Point and Figure chart of F, below, I can see that prices have reached a downside price target in the $11 area. A trade at $11.02 could precipitate further declines.
Bottom line strategy: Ford is one of several iconic brands or products unique to the U.S. and Americans tend to root for the underdog, the home team and iconic brands. Unfortunately the charts of F look vulnerable at this point in time.
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