Comments on F (Ford)
These day I am watching F. As I mentioned yesterday, it is in the middle way of rally and hit both the support and resistance. The 14 days MA is still below MA 25 days. Today it gap up and close at 5.05% + with larger volume. STO is peaked and MACD up.
If tomorrow the market is up, the Ford may be up, but BB showed it tends to be overbought and BB up is $12.00. Be careful though for the Gap $11.13 - $11.48. If the price fall back to $11.13. Next level of support will be $10.93. F is very hot these days not only in stock,but also in Option trade. The interesting pattern for today's price is that it s gapped up and never looked back till the last 30mins, the highest increasing is around 7%.
I may sell the position or at least dump half to keep my profit and set up my stop loss higher in case the price goes down I can still have profit.
As I estimated, the market may go down this weekend. Continuous up or down will be followed up by conversion. I hope it s the Friday, because I am still agreeing with the opinion that using this week to reduce the position and even short the stock if you want to make profit.
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