Business Chart of the Day: Is the Ford Rally Over?

Ford Motor Company' logo is seen connected the broadside of the gathering astatine the unveiling of their caller electrical F-150 Lightning extracurricular of their office successful Dearborn, Mich., connected May 19, 2021. (Jeff Kowalsky/AFP via Getty Images)

They accidental that markets person memories. And if it’s true, there’s a bully accidental the rally successful shares of Ford Motor Company may beryllium astir to end.

A marketplace representation is simply a notation to a enactment oregon absorption level retaining its value for an extended play of time. In the lawsuit of Ford, it whitethorn beryllium the $16.25 level.

In aboriginal June, shares of Ford ran into a partition of sellers erstwhile they reached $16.25. The rally ended, the stock rolled implicit and a downtrend followed.

Now Ford has reached this important level erstwhile again. If the marketplace has a memory, there’s a bully accidental the banal hits resistance. This could intermission oregon adjacent enactment an extremity to the rally.

By Mark Putrino

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