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Ford Reverses Off Important Support


Monday November 19th, 2012
Ford Reverses Off Important Support
by Mike Paulenoff www.MPTrader.com

During an 8-session span from Nov 6 to Nov 16, Ford (F) declined from 11.59 to 10.38, or -11%, prior to Friday's upside reversal and today's follow-through.  

This corrected the prior (Aug-Nov) upleg, retested and held the up-turning 200 EMA, now at 10.60, which also represents the neckline support plateau of the May-Nov base-building effort.

Purely from a technical perspective, F acts extremely well and exhibits very promising upside potential.

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