Ford shares close lower on Friday, more than 52 000 F-250 pickups to be recalled in the United States and Canada

According to an April 1st statement by Ford Motor Company (F), 52 600 F-250 pickups, sold in Canada and the United States, are to be recalled, as the vehicles may roll once the automatic transmission lever is moved into park position. No injuries or accidents related to the issue have so far been reported. This has been the third recall announcement by the company for the week ended on April 2nd.

Ford shares closed lower on Friday, while marking their fourth loss in the past seven trading sessions. The stock went down 0.34% ($0.04) to $11.64, with the intraday high and the intraday low being at $11.68 and $11.60 respectively. In the week ended on April 2nd the shares of the global automotive company added 0.17% to their market value compared to a week ago, which marked the first gain in the past four weeks. The stock retreated 7.10% in March, following four consecutive months of gains. It has been the largest monthly decrease since January 2016. For the entire past year, Ford shares lost 13.91%.

The second largest auto producer in the US said recalls would affect its 2017 model of the F-250 pickup truck, which is equipped with a 6.2-liter gasoline engine and manufactured in Louisville, Kentucky.

On Wednesday last week Ford announced plans to recall 211 000 vehicles in North America, due to potentially problematic side door latches.

Additionally, another 230 000 vehicles are to be recalled, because of a fire risk in the engine compartment, according to a previous announcement. 29 cases of fire eruption associated with this issue have so far been reported with no injuries caused.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Ford stock are presented as follows:

R1 – $11.65
R2 – $11.66
R3 (Range Resistance – Sell) – $11.67
R4 (Long Breakout) – $11.68
R5 (Breakout Target 1) – $11.71
R6 (Breakout Target 2) – $11.72

S1 – $11.63
S2 – $11.62
S3 (Range Support – Buy) – $11.61
S4 (Short Breakout) – $11.60
S5 (Breakout Target 1) – $11.57
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 – $11.62
R1 – $11.82
R2 – $12.01
R3 – $12.21
R4 – $12.42

S1 – $11.43
S2 – $11.23
S3 – $11.04
S4 – $10.86