Broke out of a Range Friday on a catalyst news of order on the electric mustang. I think for will Rally up to fibonacci .382 which aligns with the trendline resistance . From there I think we'll pullback and my reasoning for that is that we are overbought on some major time frames.
On the monthly chart , were overbought on MFI and outside of our bollinger bands.
on the weekly chart same issue with the MFI and we're ridining the top of the Bbands.
If you look at the weekly and monthly chart you'll see that in 1999 23.50 was strong support. That support has become strong resistance... If and when Ford breaks over that area there will be I'd look for a new entry
On the monthly chart , were overbought on MFI and outside of our bollinger bands.
on the weekly chart same issue with the MFI and we're ridining the top of the Bbands.
If you look at the weekly and monthly chart you'll see that in 1999 23.50 was strong support. That support has become strong resistance... If and when Ford breaks over that area there will be I'd look for a new entry
