This is a weekly chart. Lets face it. Ford is Not an Exciting stock to be in. At it's current low valuation it may be setting up now for another trend reversal within the Bearish Descending Triangle that its trading in. That may give hope to some as the potential move if it touches support around $11.00 and moves up to $14.00 would be 27% upside, if you buy the bottom. It could however find it's support around $12.00 and move to $14.00 for 16%. This should play out in the next 3-4 month's, by year end. Be mindful of the current pattern, it is a Bearish Continuation Pattern so it could possibly break through at $11 and go lower. The Bullish Hopefulls would see it breakthrough the top trendline of the pattern and move above $14 that would generate a new Uptrend and could gain some momentum in 2024. The MFI is forming a Bullish Divergence showing the current trend may be starting to weaken and the TSI is also breaking down so a short term reversal is near. The Bullish MA Cross that recently formed is the first time since August of last year and in July the Keltner Channel Cross is also the first bullish signal from this indicator in over 2 years so with the Indicators overall a Buy in the near future should be a good move overall. Last comment is that Ford's way of burning through cash to support their EV endevours is the main factor affecting the share price. Something needs to change in a Big Way to Break this Bearish Cycle. Weekly there are 350-500 million shares trading hands, I would like to find out what the Short Interest is as tht could be a catalyst to help bring them up off the bottom when the Short's need to cover.
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