Ford Motor Company stock price has been stuck in reverse since the high of mid March.
After a red counter trend correction arrow signaled the high in March, prices have corrected and entered a NoGo trend on April 19th. After breaking through the trend line to the downside the GoNoGo Trend rolled over from amber Go Fish bars into a NoGo trend. Briefly, we saw positive price action and the GoNoGo Trend revert back to amber Go Fish bars as price rallied to re-test the upward sloping trend line from below. The concept of polarity tells us that this was likely to be resistance and it was with price yesterday moving back into a strong “NoGo”. All of this means that a new lower high is in place and the path of least resistance for price is lower.
