According to people with knowledge of the matter, Ford Motor Company (F) is to reveal plans for production of a new engine in Canada on Thursday morning. The 7X engine for pickup trucks is expected to be unveiled at the Ford Essex Engine Plant in Windsor, Ontario. The new program might bolster activity in the countrys auto industry, the sources claimed, as current production of the large V8 and V10 engines by Ford in Windsor was expected to be concluded in four years.
Ford shares closed higher for a second consecutive trading session on Wednesday. The stock edged up 0.26% ($0.03) to $11.68, with the intraday high and the intraday low being at $11.76 and $11.64 respectively. In the week ended on March 26th the shares of the global automotive company lost 6.89% of their market value compared to a week ago, which marked a third consecutive period of decline and also the worst performance since the week ended on July 31st. The stock has pared its slump to 6.78% so far during the current month, following a 1.38% surge in February. The latter has been a fourth consecutive month of gains, but yet, the smallest one since July 2016. For the entire past year, Ford shares lost 13.91%.
The 7X engine production represents a part of a new investment program estimated at CAD 700 million ($525 million) and agreed on in 2016. According to sources, about CAD 600 million ($450 million) are to be invested in the two engine plants in Windsor.
Meanwhile, according to experts, the 7.0-litre V8 engine would generate higher torque and would ensure greater fuel efficiency compared to the 6.8-litre V10 engine, which Ford currently manufactures in Windsor.
About 125 000 7X engines are expected to be produced annually, with the program being initiated in 2019.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Ford stock are presented as follows:
R1 – $11.69
R2 – $11.70
R3 (Range Resistance – Sell) – $11.72
R4 (Long Breakout) – $11.75
R5 (Breakout Target 1) – $11.78
R6 (Breakout Target 2) – $11.80
S1 – $11.67
S2 – $11.66
S3 (Range Support – Buy) – $11.64
S4 (Short Breakout) – $11.61
S5 (Breakout Target 1) – $11.58
S6 (Breakout Target 2) – $11.56
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $11.87
R1 – $12.24
R2 – $12.86
R3 – $13.23
R4 – $13.60
S1 – $11.25
S2 – $10.88
S3 – $10.26
S4 – $9.64
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