Ford Motor company is currently building into a bullish flag on the daily with possible price target of 28.50$. It is not confirmed yet and may run into some difficulties for the two following reasons:
1- The weekly chart is showing a resistance level at 22$. This is the price target level of the fully filled ascending triangle. Once fully filled, price may reverse.
2- Ford is part of the Consumer Discretionary sector. This sector is also at the price target (1700$) of fully filled ascending triangle. This new price target could act as the new resistance and reverse the trend.
If the 22$ resistance is broken on the Ford graph, and the 1700$ resistance is broken on the sector chart, this could help fill the daily price target.
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1- The weekly chart is showing a resistance level at 22$. This is the price target level of the fully filled ascending triangle. Once fully filled, price may reverse.
2- Ford is part of the Consumer Discretionary sector. This sector is also at the price target (1700$) of fully filled ascending triangle. This new price target could act as the new resistance and reverse the trend.
If the 22$ resistance is broken on the Ford graph, and the 1700$ resistance is broken on the sector chart, this could help fill the daily price target.
Support through Patreon.
Stay Humble, have fun, make money!