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

By Nick Russo

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 $8.56 and $8.64 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 Co share prices have moved between a 52-week high of $10.56 and a 52-week low of $7.41 and closed yesterday at 16% above that low price at $8.56 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

There is potential upside of 42.2% for shares of Ford Motor Co based on a current price of $8.56 and an average consensus analyst price target of $12.18. Ford Motor Co shares should first meet resistance at the 50-day moving average (MA) of $9.13 and find additional resistance at the 200-day MA of $9.26.

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 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