After a sharp sell-off, due to the factory fire that temporarily shut down production, and expected under performance in first quarter earnings. It now seems like Ford is gaining some strength again. The earnings call provided a pleasant surprise to share-holders, topping estimates made by Thomson Reuters. With an 18% surge in revenue from Europe, and plans for more expansion in Asia-Pacific, 2018 is beginning to look more promising. The charts look promising as well. We have a clear ascending channel that prices have been bound by since the earnings call. We bounced off the bottom support at the beginning of the week, and we have now seen 3 consecutive green candles. We can expect to meet the upper resistance of the channel within the next week, and we will look for a break above the $12.00 price point to signal positive action. The June 15th call option for $11.87 strike price looks very promising. This is not financial advice, just my personal opinions. Do your own research.
Comment:
We're holding the trend so far, let's see if we can close the week green.