Ford in High-Level Congestion

Nov 13

by Mike Paulenoff, Fri November 13th, 2009

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All of the action in Ford (F) this week argues that the stock is carving out a high-level congestion pattern that should resolve to the upside in a thrust to 9.00/25 next. At this juncture, only a decline that breaks the recent pullback low at 8.17 will morph the congestion pattern into a deeper correction that projects to 7.85/75 prior to the emergence of another upleg.

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!

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