After being stuck in a narrow range, shares Ford Motor Company (NYSE:F) may be breaking out. This could set the stage for another move higher.
There has been a wall of sellers gathered around $24.75. Since Jan. 4, each time the stock reached this level the sellers kept it from moving higher.
That may be changing as Ford has traded through this important level and is now above it.
This means there’s a good chance the sellers who created the resistance have finished their orders. With this large amount of supply out of the way, buyers will be forced to pay higher prices to acquire shares. This could force Ford into a new uptrend.
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