If you haven’t looked at the $F chart lately…you and Scott can look together! – December 14, 2021
GM TSLA
This is Scott with your Chart of the Day. I want to take a look at Ford ( NYSE: F ). Ford ( NYSE: F ) is holding up quite well in this tape. I actually got shaken out of Ford ( NYSE: F ) today but I don’t want to let a stock that I have gotten shaken out of, leave my Watch List if it still has part of my criteria for getting into it.
This stock has, so far, part of my criteria for getting into it. It is in a pretty well-defined uptrend and is above that 21-day exponential period moving average. I bought 4 the other day on this day coming out of this beautiful downward-sloping trendline on a nice pickup in volume here.
Now, what ended up happening is, the entire move got sold into. So we had a lower open, anyone who bought here at the close woke up here on Monday and said, I’m not giving back those profits, and they sold it down to the 8-day exponential period moving average.
At the open today, we actually had a lower open, I will bring in a 30-minute chart, lower open, it held that low for about 30-minutes and then broke the low of the day. But through the last bit of the day, you can see how it rallied and closed near the high.
I actually like the fact that this was able to hold up pretty well despite General Motors ( NYSE: GM ), still being under the 50-day moving average and Tesla ( NASDAQ: TSLA ), also being under the 50-day moving average. So in my opinion, Ford ( NYSE: F ) is one of the better-looking automakers, right now, in the market.
And so despite the fact that I ended up getting shaken out of it when it broke the low of the day and went below that 21-day EMA, I still want to keep it on my Watch List because it may firm up here and give us another chance to get into it with a move higher.
I don’t know if Ford ( NYSE: F ) is a buy right here right now. And to be honest, I am not doing much in this market chop because I tend to give back a lot of my profits that I made in the nice uptrend. But I do want to keep this one on a watch list and I want to watch it every day because its relative strength versus some of the other stocks in the sector is quite notable.
So if you haven’t looked at the Ford ( NYSE: F ) chart lately make a habit to watch it every day and see if it can build a nice sideways base of consolidation and give us a break out higher.
Free Chart