Ford (F) is Still Trending 04/27/13

I have friends at Ford and our company does business with Ford. We supply interiors parts for them and that makes me an expert of sorts on certain products but what about the stock? Firstly I will say that I do have a small position with Ford and that I plan to increase that position if the signals come my way. I will let technical analysis rule my decisions and not anything else.

Currently F has just announced earnings and it looks like the market is happy enough to boost it past its last resistance level that was around $13.45. I shoulda woulda coulda bought some more stock when it dipped around 4/18 to $12.70. But that opportunity is gone now. Next one will show up when it starts to tackle the $14.00 to $14.25 level I expect. Perhaps I am overthinking this. It is always tempting to predict future behavior based on support and resistances!! And if it crossed that resistance level, then we could see some serious movement upwards towards territories that Ford shareholders would really be joyous about! I can see the greed side of things affecting my commentary…so let me look at the down side. Current support is at $12.65 and if we go lower it is at $12.10. My thoughts would be that if it dropped below $12.00, then it would be certainly time to close all positions as a key support level would have been broken.

The stock is definitely in an uptrend as can be seen by the upward sloping blue trend line that touches the various higher bottoms. A solid warning sign to sell will be when that is violated. With the earnings announcement behind us, I see this sloping upwards. With energy and gas prices likely to hold at current levels or drop, I will keep a watch on this stock for additional buys.