Ford - Short Term Bearish
1) Bearish divergence (white lines).
2) Falling wedge failed breakout (couldn't break above the .382 fib).
3) 9EMA crossing below the 21EMA (bearish indicator).
I think we'll fall to around 11.60-11.11.70. This is the 51EMA as well as the support we bounced off of on 3/25. If we bounce off this level, I'll go long. It'd be a nice double bottom.
I will not short Ford. I'm just waiting for a long entry, and the daily chart says that this is not the time.
2) Falling wedge failed breakout (couldn't break above the .382 fib).
3) 9EMA crossing below the 21EMA (bearish indicator).
I think we'll fall to around 11.60-11.11.70. This is the 51EMA as well as the support we bounced off of on 3/25. If we bounce off this level, I'll go long. It'd be a nice double bottom.
I will not short Ford. I'm just waiting for a long entry, and the daily chart says that this is not the time.
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