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  1. Home
  2. / Investing
  3. / Stocks

Ford's Decline Is Decelerating

Watch this key price level when things could shift.
By BRUCE KAMICH
Jul 05, 2022 | 12:31 PM EDT

In  our last review of Ford Motor Company ( F) on May 13 we warned of further declines. F has indeed declined to a lower low but the condition of the indicators is worth checking again.
 
In the daily bar chart of F, below, we can see that the shares are in a downtrend from January. Prices are pointed lower but that is not the whole story. F is trading below the declining 50-day moving average line and below the now declining 200-day line.
 
The On-Balance-Volume (OBV) line was weak from January to May but has turned sideways since May. The 12-day price momentum study shows sideways movement from May to June even though prices made lower lows. This difference between the price action and the indicator is a bullish divergence. 
 
 
In the weekly Japanese candlestick chart of F, below, we can see a minor improvement in things from our last review in May. There are two small lower shadows on the candles in June. The slope of the 40-week moving average line has turned negative but that is a lagging indicator.
 
The weekly OBV line is starting to flatten out in June from a prior decline. The 12-week price momentum study shows some improvement with a higher low. 
 
 
 
In this daily Point and Figure chart of F, below, we can see a downside price target of $9. A rally to $12 is probably needed to improve this chart. 
 
 
 
In this weekly Point and Figure chart of F, below, we can see a $7 price target. 
 
 
 
Bottom-line strategy: The price of F has been more than cut in half and some of the indicators are showing some improvement. A rally in F above $12 is possible and it should improve the charts.
 
(F is a holding in the Action Alerts PLUS member club . Want to be alerted before AAP buys or sells F? Learn more now. )
 
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TAGS: Investing | Stocks | Technical Analysis | Automotive | Electric Vehicles

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