Ford: Strong Possibility for a Bounce!

Here we are looking at Ford on the daily TF.

As shown on the chart, we are analyzing two supports (which have confluence with one another) which both connect to our downwards sloping resistance (yellow).

It’s important to note that both support lines were previously resistance, but have both served as strong support since Fords breakout (to the upside) in January of 2021.

Currently, Ford finds itself testing support (blue circle). We expect for these two support lines to act as strong support, though we’re ready for a breakdown if it can’t hold.

We will continue to monitor price action, and will follow up on this post when there’s either a bounce or breakdown.

Do you think Ford will hold its supports?

Cheers!