Ford Stock Continues To Rise And Hasn't Shown A Sign Of Slowing Yet

Ford Motor Co. F shares traded higher Monday amid overall U.S. market strength following House passage of a $1.2-trillion infrastructure bill.

The bill is expected to benefit industrials and EV-related companies. The stock is seeing above average volume and is trading on social media sites such as StockTwits.

See Related: What's Going On With Ford Shares Today?

Ford was up 4.49% at $20.15 at the close Monday. 

Ford Daily Chart Analysis

• The stock broke out of an ascending triangle pattern and has been pushing higher without a sign of slowing down since.
• If the stock cools off, it may find support near the $16 level, the area where the stock previously found resistance before the breakout.
• The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is likely facing a period of bullish sentiment.
• Each of these moving averages may hold as an area of support in the future.
• The Relative Strength Index (RSI) continues to push higher and now sits at 82. This RSI is well into the overbought range, showing the stock has seen many more buyers than sellers.

See Also: Ford's Stock Shifts Up A Gear And Continues To Climb, But Where's It Headed?

What’s Next For Ford?

Bullish traders are looking to see the stock continue to rise as the RSI stays high. Eventually the stock and RSI will likely cool off and possibly see a period of consolidation. If the stock can consolidate following the run, it may see further bullish moves in the future.

Bearish traders are looking to see the stock stop rising and for the RSI to start dropping. This would show the stock is seeing more sellers entering the market, and the price may follow.