$F TOP 20
Added 2023-09-24 19:19:49 +0000 UTC$F is at an important junction here, the momentum has been behind it and any pull back during the week was bought very quickly but there is two glaringly obvious concerns here....
1. The 200 Day MA is a firm resistance line over the last 3 weeks and
2. The 50 Day MA is just passing through the 200 Day MA now
And when a stock is trying to break out of a resistance line and it is met with this bearish cross, the timing could not be worse.
And if the market opens weak on Monday and Tuesday, this may add more pressure on $F.
Sunday nights are usually when deep negotiation talks happen during strikes and I am already hearing news that the Canadian $F plant may have reached a deal with unions, so this might be a positive development, we will have to see how tomorrow opens.
