Ford/TSLA breakout. Healthy Pullback before moves higher Ford has been riding a falling triangle for over 6 months. multiple head/shoulders patterns occurred inside that triangle, always pulling back to 11$ support and bouncing off downward trend line. When TSLA announced it would be opening its chargers to everyone, I knew due to Ford's patented charging cable for its F150 lightning and their announcement of over-air software updates that some kind of partnership was in the works. After fords breakout from the Triangle we have seen significant upward momentum, backed up by volume. However, Ford will have a hard time breaking above 15 mostly due to technicals. Given all the information we know about their partnership with TSLA, their plans to streamline their production and build a factory, we can reasonably assume Ford will have some sideways movement until next earnings report. Ford also had a mighty short covering rally. I believe it it may become subject to another short term short until earnings report for 3rd quarter. Their is a gap on ford around 18$ from a year or so ago, by the end of year, after the last 2 earnings reports, ford will be closing that gap and on its way to becoming a wonderful value stock and dividend yielder.
