Ford trending down back into $9 multi-year weekly
Someone asked me to look at Ford.
I see an impulse motive off the government TARP stimulus in 2009.
Then the milestone into a W wave down show a 3 wave Zigzag for the 2011 lows.
From there it's gone sideways and declining since 2013 into a complex pattern...
Which I think, based on where the momentum swings and milestones fall, as a WXY pattern with the X wave as a triangle. Each new momentum high in the triangle gets cut off with higher Low prices, typical of a triangle.
So it looks like to me, the symmetry in the timing gives a C of (Y) leg down into $9.
I am wrong with a close above 13.90 on the Daily chart.
I'd say right with a strong milestone candle forming down over 11.50.
The C dividend yield is so low that I'm not sure I'd bite even at $9 though.
I see an impulse motive off the government TARP stimulus in 2009.
Then the milestone into a W wave down show a 3 wave Zigzag for the 2011 lows.
From there it's gone sideways and declining since 2013 into a complex pattern...
Which I think, based on where the momentum swings and milestones fall, as a WXY pattern with the X wave as a triangle. Each new momentum high in the triangle gets cut off with higher Low prices, typical of a triangle.
So it looks like to me, the symmetry in the timing gives a C of (Y) leg down into $9.
I am wrong with a close above 13.90 on the Daily chart.
I'd say right with a strong milestone candle forming down over 11.50.
The C dividend yield is so low that I'm not sure I'd bite even at $9 though.
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