FORD Trend line break

• Ford gave a clean breakdown from a trend line in weekly chart.
• Price has closed below 50 week moving average.
• Immediate support for the stock is the last swing low 13.75 and the Golden ratio at 13.25 level.
• Unless a big turnaround comes Medium term looks weak for F.
• BEARISH ENGULFING OF IWM
  

Bearish Engulfing of IWM

• IWM Weekly chart has given another bearish engulfing for bears.
• Price has also closed below its 20 week moving average.
• But daily chart shows a chance for a small bounce. Price is at a support line and the lower Bollinger band. Daily candle looks like a pin bar reversal candle. So combination of these things might result in a small trading bounce.
• One more thing to note is that price after giving the first bearish engulfing did go to 85 levels before selling off. So we may expect a similar price action to happen.
• But the medium term looks bearish.
• DOW JONES ANALYSIS AFTER CLOSING BELL
  

DOW JONES Analysis after closing bell

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• First chart shows Dow closing near the previous support level of 12090 - 12110.
• Breaking below this level may take Dow to 11500 levels in the short term.
• Price has closed below its 100 Day Moving Average. But Stochastic indicator is showing Oversold reading which might result in a bounce. If price holds 12090 and come back to close above 100 DMA then we may see a good turn around.
• Hour chart is getting resisted at 100 Hour moving average. So good up move can be seen on closing above this level.