02.02.202316:37 Forex Analysis & Reviews: Ford stock price breaks above key trend line resistance.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Red line- support neckline

Blue line- trend line resistance

After respecting key support around $11 and bouncing towards our short-term target at $13.50, Ford stock price has now managed on a weekly basis to break above the blue downward sloping resistance trend line. Having respected the horizontal support at $11 combined with a break above $13.50, we have a sign of strength and reversal after more than a year under pressure. Next important resistance is the previous high at $14.65. A break above this level will also cancel the Head and Shoulders bearish pattern.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.