September 5, 2010

Ford Motor co Triangle in weekly chart

  • Ford Motor is showing good momentum on the upside.
  • If the stock moves above 13 one can go long with a small stop loss.
  • If the stock gets resisted at the top of the triangle the stock can still remain inside the pattern with a breakout or breakdown possibility that can take place in the coming weeks.
  • Breakdown from the weekly triangle can create a topping pattern for the stock which can push the stock down for medium term.

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