Upside Projections for Ford

Looking at the hourly chart on Ford (F) since April 23, we can make the case technically that the recent spike lows at 10.14 and 10.40 represent a near-term double-bottom. This morning Ford broke above key resistance at 11.35/45 and continued higher, which has confirmed the near-term, base-like pattern, and which triggered upside projections into the 12.20/40 area next.

Let's notice that a powerful down trendline off of the April high cuts across the price axis today at 11.85/90. If hurdled and sustained (above 11.90), Ford should run towards 12.20/40 quickly.