Ford Motor may fall to 7.22 - 7.88

Our pivot point stands at 10.99.

Our preference

The downside prevails as long as 10.99 is resistance.

Alternative scenario

Above 10.99, look for 12.11 and 12.79.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 11.7055 and 12.154).

Supports and resistances

12.79 **

12.11 *

10.99 **

10.55

9.86 (USD-last)

8.53

7.88 **

7.22 *

6.57 **

Number of asterisks represents the strength of support and resistance levels.