Ford $F has been making quite a recovery since the end of 2018 when price fell to a low around $7.50. It is now trading above $10, and I think it can push above the May/June high of $10.50.Ford Daily Chart(click to enlarge)Rounded Bottom?- The price action since late 2018 until now does look like a rounded bottom.- Price has rallied above the cluster of moving averages, most importantly the 200-day SMA.- The RSI has held above 40 for the most part after pushing above 70 in April. This reflects maintenance of the prevailing bullish momentum generated in early 2019.- Price action further confirmed upside when it treated the moving average cluster as support.- Last week, price also treated a previous resistance pivot at $9.80 as support.- These are signs that suggest a continuation of the uptrend, and thus a higher high above the current resistance of $10.50. Resistance:- While the short to medium-term trend has been bullish, I think the rally will be going up against strong resistance around the $11-$11.50 area.- In the long-term, or at least since 2014, price has been bearish, falling from heights of almost $18 per share.- Because of this prevailing downtrend, I would respect the resistance seen in the $11-$11.50 area.- This involves the 200-week SMA, a falling trendline, and a previous support pivot that could turn into resistance.- If price action shows that it won't come back to the 2018/2019 lows again, and anchor above at least $9.00 (preferably $10.00), then I would be more confident of a bullish recovery that can break above the above-noted resistance factors. - Again, for now, I think we can anticipate more short-term upside, but should also respect the $11-$11.50 resistance based on the long-term bearish trend since 2014. Ford Weekly Chart(click to enlarge)