Technical Analysis - Ford
Note: the following analysis is formulated as an assimilation of Fibonacci, DeMark, Elliott Wave and other technical indicators. It is offered as education and not intended as advice in any way.
This is an update on the technical patterns for Ford (F:NYSE); please see our more detailed note dated 6/10 for the background to this note.
F seems to have traced out a "5" wave move from the 6/10 highs to yesterday's lows and in so doing has potentially started the larger degree correction move down toward $11.90, if not $9.25, depending on how important that January high is.
For now, given this small degree "5" wave move down, I have moved my confidence rating to "High" from "Medium" and the analysis suggests that the recent high of $15.65 from $16.24 is the area to re-evaluate the action.
The risk / reward seems skewed to the downside based on the analysis (not advice)
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