Ford (F): Text Book Head & Shoulders Top?

by Dan May 9, 2012 11:07 am • Commentary

Chart below of F dating back to the beginning of 2009 has the making of a massive Head and Shoulders Top formation with $10 being the neckline, or massive support.  I have no fundamental view on the stock, but the  Price Action Blows!   Last year the stock broke $10, but not in a meaningful way, then rallied almost 30% to form the right shoulder.

I am not suggesting to press the stock here, but technicals are an important input I use to inform trades, and this one could be the start of something to consider along with any directional view on the fundamentals of the company.  We are keeping an eye on this one.

4 YR chart of F from Bloomberg