Trading Idea for Ford Industries Inc. (NASDAQ)

Ford Industries Inc. (NASDAQ)

#F

The trend is up. The stock is trading in the range of the 365 and 135 EMAs. The downward wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator is signaling oversold conditions. Support at 13.75 is holding back sellers.

Trading idea:

Buy on the formation of an upward wave pattern, where wave (A) breaks the sloping channel of the downward truncated pattern.

Stop loss below the support level of 13.75.

Target levels: 15.00; 15.65.Q)