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I am keeping a close eye on Ford (F) because it has become the darling of what remains of the American auto business, and appears to have the grit and determination to succeed in a new mean global environment. My medium-term chart work argues that we need to be long Ford soon, ahead of an explosive new upleg that projects to 12.00-15.00 in the upcoming months. My near-term work suggests that I want to be long F as long as the October 2 low at 6.61 remains intact and before the stock hurdles 7.55-.60 resistance – if I do not want to chase it towards 9.00.
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!
