With Toyota Motor Corporation (TM) under pressure with some other Japanese auto companies, common sense tells me to look at Ford Motor Company (F). The stock has pulled in from $19ish and has been mired in a month and a half long downtrend since its earnings report on January 28th.
I see a small descending channel on the daily chart that I think presents an outstanding risk-reward situation for the active trader. I think you could look to buy around $14.50 and if it holds above, we can get quick cash flow move to $15ish before the ultimate gap fill back to $15.70. Stops would be at $14.20.
Disclosure: Long F
Risk Our Money Not Yours | Get 50% Off Any Account
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply