Opinion on  Ford Motor Company (F)     Sector: Consumer Cyclical  >  Industry: Auto & Truck Manufacturers
Bullish On Ford Next Week

Ford (NYSE: F) finished last week strong. An acute trader would have seen positive divergence in the MACD and share price from mid-October through mid-November. The buy signal came when Ford broke the down trend line last week.

Ford closed the shortened week near the high of day, just above the 50MA. Momentum indicators seem to support a sustained run.

On top of the technical momentum, the country seems to be changing its sentiments towards providing money to US automakers. So long as the automakers' managements are able to deliver a plan to Congress when they meet next, I do not foresee Congress denying the companies the money they need to stay solvent.

So, I am bullish on Ford through the time when Congress will provide the money.

Did not expect Ford (NYSE:F) to retrace as much as we saw on Monday. The stock jumped at the open as expected, but I think the broader markets affected Ford and ignited a sell-off. My stop kicked in at 2.75.

However, I bought back in today, as I fully expect Congress to give Ford the line of credit the company has requested.

Again, at this point, I'm not long, but I will ride the wave for now.