The Long Investor

$F TOP 20

Added 2023-10-27 16:29:15 +0000 UTC

$F in one week has made a deal with UAW with a substantial pay increase for its workers, it had its earnings yesterday which was a double miss, it has lost its trend line support that has been a support level since June '22 and is now below its blue line which means it is into the bear case and Buy Zone.

This has been a busy week for $F and they have also stated they will be reducing their EV productions for now....which is a strange move.

So this is not a good time for $F.

Things have not gone right for them on all fronts and that is why it is into the bear case.

So where is support now?

If they can not get back above the blue line at $10.60 then the price can come down to the next Fib level at $8.68 for the 0.78 Fib.

Worst case scenario is that $F comes all the way down to the bottom yellow trend line, which has been a support line since its Covid low....this is all the way down at $5 right now.

For now, I am not liking the look of this chart.