Stock of the Day: Ford Motors

Stock of the Day: Ford Motors
In today’s stock of the day, let’s revisit Ford Motors, which we last analyzed on September 18th. Back then, I highlighted the ascending triangle pattern forming on the chart and suggested that a breakout to the upside was the most probable scenario. On Friday, this move finally materialized — the price broke above the upper orange horizontal resistance and escaped from the triangle, triggering what appears to be a bullish breakout.

Now comes the crucial part: deciding whether this breakout is legitimate or just a false breakout. Monday’s open and early trading sessions will be key to answering that question. If Ford holds above the broken resistance — which now acts as support — then the bullish scenario remains valid, and buyers will have a proper signal to go long.

On the other hand, if the price closes a day back below the orange line, that would confirm the breakout as false. Such a move would shift sentiment quickly to negative and act as a fresh signal to sell, reversing Friday’s optimism. Traders should therefore monitor Monday’s action closely, as Ford sits at a decisive crossroads.


 
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