8:50
As expected, Ford is now at 7.65, close to the 7.68
8:01
Ford activity now suggest that it will move above 7.50 and re-test the 7.68.
7:45
Ford's report caused a nice quick move pre-market up to 7.68 but has backed down since.
I have 2 down trendlines in Ford 60min chart, both have been pierced to the upside.
The first trendline had R at 7.04 (hurdled) and the second DTL (more important one) had R at 7.51.
Horizontal resistance was at 7.35. Lets see now if F can stay over 7.51 or 7.35 and convert those into support.
Right now, there is a huge bearish shooting star-like candle in F, which suggests (along with other indicators) that F will consolodate around 7.51 and decide it's direction. Those long wicks on the shooting star generally point to lower prices, but again, this is pre-market.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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