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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Ford: finding renewed bullish momentum?

After losing ground since its three-month high earlier in June, Ford appears to have found a higher low, pointing towards a potential move higher.

Source: Bloomberg

Ford looks poised to rally, having managed to halt the losses seen for most of June. After rallying to a three-month peak by early June the price then reversed, losing 27% in two weeks.

However, the price appears to have found support at the 100-day SMA ($5.92) and has begun to push higher. If it can rally from here then it will have established a new higher low, another bullish signal after the higher high earlier in the month.

Source: IT-Finance

Traders should also watch out for bullish crossovers in daily stochastics and MACD, with the former likely to trigger first. This would be the first bullish crossover since early May for stochastics, while the last MACD bullish crossover was at the low in March. Further gains target $7 and then $8, with the bullish view negated if the price drops below $5.50.

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