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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ford Motor (NYSE:F) based on the price action in the company's shares. Today's price range of $12.32 and $12.38 is within yesterday'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 may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 43.2% exists for Ford Motor, based on a current level of $12.32 and analysts' average consensus price target of $17.65. The stock should find initial resistance at its 50-day moving average (MA) of $13.24 and further resistance at its 200-day MA of $13.67.

Over the past year, Ford Motor has traded in a range of $10.44 to $15.88 and is now at $12.32, 18% above that low. The 200-day and 50-day moving averages have moved 0.17% lower and 0.69% higher over the past week, respectively.

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

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

Keywords: bullish inside day candle ford motor

Ticker(s): F