FORD (F) Needs Lower Prices After Ending A Double Correction
Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, and luxury cars under its Lincoln luxury brand.
FORD (F) Daily Chart December 2023
In January 2022 Ford made a high at $25.87 and we called wave I and the market started to seem looking for a corrective pullback in wave II. The decline found a bottom in April 2022 at $13.93 which is much larger than the 50-61.8% Fibonacci retracement levels of the previous wave I which is expected for a wave II correction. The corrective structure from the all-time lows remains in 2- 3-7 or W-X-Y structure. The move to the upside from the April 2022 lows looks like the final wave Y of the correction and now in wave ((c)) which is expected as a part of a double three correction which is complex and time-consuming. The stock now has a bearish sequence from wave I peak which is calling for lower prices towards $11.89 – $7.97 area.
How will this affect you?
Lower prices in Ford (F) could provide a buying opportunity for investors looking to enter the market at a discounted price. It is important to conduct thorough research and analysis to determine the best entry point and investment strategy. Keep an eye on market trends and consult with a financial advisor for personalized advice.
How will this affect the world?
As one of the major players in the automotive industry, Ford’s performance can have ripple effects on the global economy. Lower prices for Ford stock could impact investor confidence and potentially lead to shifts in the market. It is important to monitor these developments and stay informed on how they may affect the broader economic landscape.
Conclusion
In conclusion, Ford (F) appears to be in need of lower prices after ending a double correction. Investors should consider this potential trend and evaluate their investment strategies accordingly. Stay informed, monitor market trends, and seek professional advice to make sound financial decisions.
