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Ford (F) is up substantially this morning on rumors floating around that one of the rating agencies is about to upgrade the company's credit rating, which could save Ford billions of dollars in refinancing costs in the upcoming months. Looking at the daily chart, to trigger upside acceleration F has to hurdle 7.40, which should propel prices above 7.60 on the way towards 8.50. We added it to our model portfolio last week at 7.09. Only a decline that breaks the October low at 6.61 will compromise the current positive technical set-up.
Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!
