Before Earnings - Ford

$F

Not something I typically do, but took a small position in F 0.00%↑ in front of this afternoons earnings report. We can see it’s been getting rejected at the 200 day since gapping down last July. It’s wedged between the 200 day moving average and the AVWAP from its last earnings report. I expect this gets resolved sooner than later. Risk management levels are noted, as I took a conservative upside target just under the gap range. There’s certainly the risk that the post-market move takes out my downside risk range, though I would be surprised if anything lower than the the recent $8.50 print gets breached. Last weeks GM 0.00%↑ reaction was muted, so it’s more of a small wager on a potential upside surprise.