Ford #Gold #SP500 It’s not often we have to warn a report may contain ‘spite’ but Ford, announcing 7,000 job cuts, reminded of another reason we utterly despise the company and their products. The problem was a car purchased for the dogs as our usually wet and muddy Golden Retrievers tend trash a vehicle interior. We bought a Ford C-Max as a worthy pooch transport.
Cumulatively, the thing managed remain roadworthy for just 2 out of 8 months, a series of electronic problems tending ensure it never could be trusted to complete a journey. Even dealerships admitted bewilderment, when C-Max electronics decide to play games. We gave up and sold the thing with Ford finally winning the accolade for a real dog of a car. It will be the only Ford ever purchased, such was the level of trouble. We wonder, in this day and age, how could a car maker fail to implement reliable electronics, given Japan have been doing it since the 1980’s? (However, it was nice seeing it report 72mpg at motorway speeds!)
Thus, our approach to the company share price is tinged with distaste but to be fair, there’s quite a lot to dislike. Despite strong recovery since the trauma of 2009, the share price faltered and is now presenting a distinctly dodgy picture. The big problem is the Red line on the chart, currently around 8.1 dollars. Weakness below this level looks capable of driving the price down to 6.29 next. While a bounce from 6.29 is possible, in the absence of a miracle we’d suspect it short lived as secondary, should 6.29 break, is down at 1 dollar. Visually this will represent a return to match the lows of the market crash!
To get out of trouble as we already suspect 6.29 shall appear, the price requires better 11.75 as this should trigger some recovery to an initial 13.25. The chart tends suggest, should such a level be attained, some hesitation can be expected as it appears a glass ceiling awaits. Only with closure above 13.25 dare we accept a secondary longer term calculation of 16.80.
For now, similar to our gladly unmissed Ford C-Max, we distrust the company share price but shall take an interest should it achieve the 6.29 level. And who knows, if the 1 dollar mark ever appears, considering buying Ford would not be out of the question!
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:49:34PM |
BRENT |
71.54 | |||||||||
|
10:52:15PM |
GOLD |
1278.38 |
1273 |
1268 |
1263.5 |
1279 |
1279 |
1283 |
1291 |
1274 |
‘cess |
|
10:54:52PM |
FTSE |
7313 |
‘cess | ||||||||
|
10:57:31PM |
FRANCE |
5358.5 |
Success | ||||||||
|
11:00:26PM |
GERMANY |
12057.18 |
Success | ||||||||
|
11:03:05PM |
US500 |
2848.38 |
2838 |
2830.5 |
2810 |
2855 |
2872 |
2880 |
2887 |
2853 |
‘cess |
|
11:06:17PM |
DOW |
25744 |
‘cess | ||||||||
|
11:09:13PM |
NASDAQ |
7400 |
Success | ||||||||
|
11:12:07PM |
JAPAN |
21176 |
‘cess |
20/05/2019 FTSE Closed at 7310 points. Change of -0.52%. Total value traded through LSE was: £ 5,429,558,447 a change of -17.82%
