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Possible Bullish Inside Day Candle Pattern Detected for Ford Motor Co (NYSE:F)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ford Motor Co (NYSE:F) based on the price action in the company's shares. Yesterday's price range of $8.08 and $8.11 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Ford Motor Co may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Ford Motor Company designs, manufactures, and services cars and trucks. The Company also provides vehicle-related financing, leasing, and insurance through its subsidiary.

Over the past year, Ford Motor Co has traded in a range of $8.02 to $10.56 and closed yesterday at $8.12, 1% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has slid 0.3%.

Potential upside of 49.9% exists for Ford Motor Co, based on a current level of $8.12 and analysts' average consensus price target of $12.18. The stock should run into initial resistance at its 50-day moving average (MA) of $9.08 and subsequent resistance at its 200-day MA of $9.38.

SmarTrend is tracking the current trend status for Ford Motor Co and will alert subscribers who have F in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle ford motor co

Ticker(s): F