Ford Motor Company trying to break to the upside of ascending triangle

25

February 2021

By

Alex Cole

Ford Motor Company’s is in a “Go” trend and its stock price is testing the prior high that was achieved at the beginning of this pattern.  During the consolidation, the GoNoGo Oscillator has found support at the zero line as it should.  Over the past few bars, we have seen two low risk trend continuation icons in the form of the green circles under the price bars.  Price yesterday closed above the high from Jan 21.  We would like to see price consolidate above the upper bound of the triangle and for volume to increase (which would be indicated by the GoNoGo Oscillator becoming dark blue).