The effect of quantum interference on the magnetoconductivity of a two-dimensional ferromagnet for arbitrary orientation of magnetization and external magnetic field has been investigated in the case when spin-orbit interaction plays an important role. By means of the diagrammatic perturbation technique, analytical results for the magnetoconductivity has been obtained as a function of the magnetization and characteristic relaxation times due to elastic, inelastic, and spin-orbit scattering. The result shows a strong dependence of the orientation of the magnetization with respect to the plane of the system on the conductivity. Depending on the orientation and strength of the magnetization and the coupling of the electronic spin with the magnetization both negative and positive magnetoresistance has been predicted. In addition, it is shown that, in order to explain the experimental variation of the conductivity in thin ferromagnetic films, electron-electron interaction and domain wall scattering must be considered.