For the past seven weeks, Ford (F) has been correcting its prior upmove from the July pivot low at 5.24 to the August high at 8.86. On Monday, the stock traded down to 6.75 prior to recovering to the 7.00/10 area.

In pre-open action today, Ford was trading up at 7.21/22, largely due to a very favorable article in today’s WSJ entitled, “Ford Makes Push to Boost Asian Presence.” My near- and intermediate-term pattern work argue that a correction was completed at Monday’s low (6.75) and as long as support between 6.75 and 6.55 contains any forthcoming weakness, Ford is a technical buy for a run at the August high on the way to 10.80-11.00.

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.