Ford our Free Stock Pick for Tue Jan 4th 2011
Ford Motor Co. (F) jumped 46 cents, or 2.74%, on Monday, closing at 17.25, just 1% below a multi-year high at 17.42. The stock broke above the upper trend line of a bullish pennant after nearly two months of consolidation. Volume also returned back to average after a few weeks of light volume.
I see a high probability for trend continuation and a move toward the 18.20-18.60 target range. Preferred entry (buy stop) price is 17.40, with a stop loss at 16.90.
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