Hello everyone,
Ford has repeatedly made local tops, dropped a slight bit, overextended itself past the prior local top (by about 20-25%), and come down to retest the prior local top 3 times since Fall of 2020. After each of these retests, Ford has proceeded to make an extremely bullish move of 40%+. Given the recent 55%+ move made by Ford and its habits of retesting previous local tops in the last year, a pullback to around $16 and subsequent bounce of approximately 50% to reach a target of $25 seems exceedingly likely, if not inevitable. This is of course conditioned on the market continuing to remain relatively bullish, as well as Ford's ability to continue to improve their company's outlook, which the current CEO has demonstrated he is capable of doing.
The outlook for Ford is extremely bullish over the long term and buying this stock (which has not made an all-time high since the 1990s!) at any level under $20 is an opportunity, even with the continual bullish move since 2020. Watch this space.
All the best,
Jason
Ford has repeatedly made local tops, dropped a slight bit, overextended itself past the prior local top (by about 20-25%), and come down to retest the prior local top 3 times since Fall of 2020. After each of these retests, Ford has proceeded to make an extremely bullish move of 40%+. Given the recent 55%+ move made by Ford and its habits of retesting previous local tops in the last year, a pullback to around $16 and subsequent bounce of approximately 50% to reach a target of $25 seems exceedingly likely, if not inevitable. This is of course conditioned on the market continuing to remain relatively bullish, as well as Ford's ability to continue to improve their company's outlook, which the current CEO has demonstrated he is capable of doing.
The outlook for Ford is extremely bullish over the long term and buying this stock (which has not made an all-time high since the 1990s!) at any level under $20 is an opportunity, even with the continual bullish move since 2020. Watch this space.
All the best,
Jason
This didn't work out exactly as planned by we are nevertheless back in the range of $16-$18, which is a good buying opportunity in my opinion.
All the Best,
Jason