Wednesday, March 16, 2011

F - looking for followthrough

 60MIN 
 DAILY

WEEKLY

  • Looking for followthrough in F following yesterday's rally. Tripple bottom (60min)???
  • Hard to get in on it from that sharp one day rally. Will want it to consolidate above the 14.6 level and then buy the break or a ratracement down to 14.5ish level and scale in? no sure will have to see how it plays out and judge by the price action.
  • Longer term: weekly chart, still in an uptrend. 
  • Price stays above the raising trendline on weekly + 200dma 
  • Looking for a safer entry. 
  • Next major resistances are 14.7 (prior lower high), 15.3 gap fill + 38.2 retrace, 16.35-16.5 (next lower high + 50% retracement)

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