Chart Wars: Will Ford Close the Gap Between Tesla’s Stock?

Chart Wars: Will Ford Close the Gap Between Tesla’s Stock?
The logo of U.S. carmaker Ford can be seen at the company's booth at the International Motor Show (IAA) Germany, in Munich, southern Germany, on Sept. 8, 2021. Christof Stache/AFP via Getty Images
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Ford Motor Co. and Tesla Inc. have both formed weekly chart patterns that could provide clues to their future direction for the long-minded trader and investor.

Ford has formed a bull flag pattern while Tesla has settled into a bearish downtrend. As more and more legacy automakers continue the switch to electric vehicles, there is a possibility Tesla will lose its sector dominance and stocks such as Ford and General Motors Company have begun to decouple from Tesla’s price movements.