Trading idea for Ford Industries Inc. (NASDAQ)

Ford Industries Inc. (NASDAQ)

#F

The trend is downward. The stock is trading between the 365 EMA and the 135 EMA. The upward wave pattern is truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates an overbought condition.

Trading idea:

Sell upon the formation of a downward wave pattern, where wave (A) breaks through pivot 2 (12.52) of the preceding truncated upward pattern.

Stop Loss – 12.85.

Target levels – 12.00; 11.70.