Early signs of shifting momentum on the horizon

Ford showing some optimism on the monthly chart based on price action and momentum. Its shares are trading at around $13.72 ahead of the company’s earnings call tomorrow. Following its sell-off in 2022, it seems like the motor company may have found some support around $9.67, which is also outlined by the trendline. This trendline is now providing support around $10.95 and a break below it would likely kill the recent momentum. This perhaps would lead to a sell-off to re-test $9.67, which seems to be the nearest bottom. On the other hand, looking at the upside, we can see the price earlier in the month climbed above the resistance of $13.94 but has now retraced back below it. This will be the primary focus heading into the earnings call for investors. A close above this level would shift the focus toward $15.42. The technical indicators are demonstrating a shift in investor sentiment, suggesting that buying volume is now on the rise after the potential bottom in October of 2023. The MACD seems to be turning positive and the RSI is now rising as it reads 53.