Wednesday, May 13, 2009
FORD?
I'm out of F. Ford is in a gap. The gap could either be filled or closed. As I see it there is another gap support area down around $4 that I have my eye on. Very high volume at the start of trading and the end of trading today. The 10 minute chart says stay away. The $4.71 low of today says the 60 chart provided support at the 29 day moving average. That was also confirmed with the little bounce of the daily 29 day moving average on the stockchart daily chart. If people in the know are saying to buy Ford under $5 they could mean buy it at $4 or $3 or $2 or $1. As I said earlier in this post I'm watching support at the next gap support level around $4. Another way to approach a trade in Ford would be to buy the stock with a break of resistance above $6.54 on HIGH VOLUME. Here is a look at the 10 minute Scottrade Elite chart. Also take a look at my stockchart daily chart.
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