Ford Motor Company gets stuck in reverse

Ford Motor Company gets stuck in reverse


April 2021


Alex Cole

Ford Motor Company stock price has been stuck in reverse since the high of mid March.

After a red counter trend correction arrow signaled the high in March, prices have corrected and entered a NoGo trend on April 19th.  After breaking through the trend line to the downside the GoNoGo Trend rolled over from amber Go Fish bars into a NoGo trend.  Briefly, we saw positive price action and the GoNoGo Trend revert back to amber Go Fish bars as price rallied to re-test the upward sloping trend line from below.  The concept of polarity tells us that this was likely to be resistance and it was with price yesterday moving back into a strong "NoGo".  All of this means that a new lower high is in place and the path of least resistance for price is lower.