F Ford Motor chart shows the blue line H&S pattern where the neckline broke at 15.5 in early March. Price has now come back up for the back kiss of the neckline and also fill that gap left behind in late February. The RSI would like to see a little more price buoyancy but money flow and stochastics are agreeable to price moving back down, therefore, 16 should keep a ceiling on price. The target for the blue line H&S is 12, also a key level of horizontal support. Using the recent low as a neckline for the pink line H&S would ultimately target 9.
Price should move sideways to sideways down moving forward, from 13 to 16 into summer time, intial target at the 200 MA and horizontal support at 14.3, then follow the integers lower as the year moves along, 14, 13, 12, 11, 10, 9, just like a countdown. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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