Ford $F has been on a recovery run in 2019, but recently failed to push above the April/May high at $10.50. A poor earnings report is adding pressure to return the auto maker into a bearish trend. The $9.30 mark will be key.First, a summary of the earnings from CNBC:Ford shares plunge after earnings fall short, 2019 forecast disappointsFord shares fell after the company reported second-quarter earnings that were short of expectations.The automaker also issued its 2019 forecast, but it too came in below estimates. Ford, which has slashed thousands of jobs this year, is also investing $11 billion by 2022 in electric and hybrid vehicles.Ford shares plunged Wednesday after the automaker reported second-quarter earnings that were short of expectations and issued a disappointing forecast for the year. Ford, which has slashed thousands of jobs this year, is also investing $11 billion by 2022 in electric and hybrid vehicles to try to keep pace in a changing industry. “Midway through this key year of action, we are pleased with the progress we are making toward creating a more dynamic and profitable business,” Chief Executive Jim Hackett said in a statement. “In this time of profound change in our industry, Ford has amazing opportunities to delight customers, innovate and collaborate in new ways, and create value.” But shares fell sharply, down more than 6% in extended trading. Investors have been hopeful about the steps Ford has been taking, and had pushed its stock up more than 34% year-to-date through Wednesday. Here’s what the company reported vs. what Wall Street analysts expected, based on average estimates compiled by Refinitiv:Adjusted earnings per share: 28 cents per share, vs. estimates of 31 cents per shareAutomotive revenue: $35.76 billion vs estimate of $35.07 billion The automaker said second-quarter net income fell to $148 million, or 4 cents per share, hurt mainly by efforts to restructure its business in Europe and South America. Excluding these charges, Ford earned 28 cents per share, which was lower than the 31 cents per share analysts were expecting. Those results included a loss from an investment the company made in Pivotal Software. Excluding this item, Ford would have earned 32 cents per share, the company said. Total revenue fell to $38.85 billion from $38.92 billion a year earlier, and automotive revenue inched up to $35.76 billion, topping estimates of $35.07 billion.F Daily Chart(click to enlarge)Resistance Holds:- The fact that price held under $10.50 was an indicator that bulls might have run their course in 2019.- Price already broke below a key pivot at $9.80 as well as a rising trendline for 2019.- Note the relatively strong volume on the current retreat. Key Support:- Now, the $9.20-$9.40 area will be key support.- This area involves a previous support pivot as well as the 200-day simple moving average (SMA).- Bulls might see this area as an entry point, but if price falls below $9.20, we might see bulls give up, leading to a bearish continuation.- It would be a reversal against the 2019 trend, but a continuation of the prevailing trend seen in the weekly chart.- Note that in the weekly chart, price held under the 200- and 100-week simple moving averages. - Also note that the $10.50 resistance was a previous support area. The fact this resistance held further confirms that bears are in charge in the long-term.- If price bounces back up around $9.00, monitor the $10.00 level for resistance. If price starts to anchor below $10.00, we can have more confidence of further downside towards the $8.00 mark, around the 2018 low, which was near $7.40 F Weekly Chart(click to enlarge)