Ford Motor Co. (F) could be in the crosshairs of the UAW and hit with a labor strike in a few hours but let's check out the charts and indicators on this well-known stock.
In the daily bar chart of F, below, I can see that prices have yo-yoed sideways for the past year. Rallies and bounces have been retraced. The $11.5--$11.00 area has acted as support the past 12 months.
Trading volume has not given us direction. The On-Balance-Volume (OBV) line has moved up and down with the price action. The Moving Average Convergence Divergence (MACD) oscillator turned higher in August giving us a cover shorts buy signal.
In the weekly Japanese candlestick chart of F, below, I see a neutral to bearish picture. The shares have been moving sideways since the middle of 2022. F is testing the underside of the 40-week moving average line.
The weekly OBV line is in decline from early 2022. The MACD oscillator is now slipping below the zero line for an outright sell signal.
In this daily Point and Figure chart of F, below, I can see that the software is projecting a downside price target in the $11.54 area.
In this weekly Point and Figure chart of F, below, I see a downside price target in the $9 area.
Bottom-line strategy: I am not a fly on the wall of the offices of the UAW so I will not recommend a position in F at this point in time.
