According to a press release by Ford Motor Company (F), the two-week summer shutdown at its plant in Louisville is to be shortened, because of sound demand for models such as Ford Escape and Lincoln MKC.
Ford shares closed lower for a fourth consecutive trading session on Wednesday. The stock went down 0.45% ($0.05) to $11.07, after touching an intraday low at $11.02, or a price level not seen since May 31st ($11.00). In the week ended on June 4th the shares of the global automotive company added 3.84% to their market value compared to a week ago, which marked a second consecutive period of gains and also the best performance since the week ended on January 8th. However, the stock has neutralized earlier gains and is now down 0.45% so far during the current month, following a 3.05% drop in May. The latter has been a third consecutive month of losses. For the entire past year, Ford shares lost 13.91%.
“The record sales for Ford Escape through May are being driven by strong demand from our retail customers”, Fords Executive Vice President, Raj Nair, who assumed the role on June 1st, said.
Fords Assembly Plant in Louisville is the companys sole facility in North America, where a shorter-than-usual summer shutdown period is planned. At the same time, Fords component plants such as Van Dyke Transmission, Sterling Axle, Chicago Stamping, Rawsonville, Chihuahua Engine, Woodhaven Stamping and Michigan Assembly Stamping are to be closed for a period of one week during the summer.
According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Ford’s stock price, have a median target of $12.50, with a high estimate of $17.00 and a low estimate of $10.00. The median estimate is a 12.92% surge compared to the closing price of $11.07 on June 7th.
The same media also reported that 14 out of 25 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 8 – as “Buy”. On the other hand, 2 analysts had recommended selling the stock.
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 – $11.09
R2 – $11.10
R3 (Range Resistance – Sell) – $11.12
R4 (Long Breakout) – $11.16
R5 (Breakout Target 1) – $11.22
R6 (Breakout Target 2) – $11.24
S1 – $11.05
S2 – $11.04
S3 (Range Support – Buy) – $11.02
S4 (Short Breakout) – $10.98
S5 (Breakout Target 1) – $10.92
S6 (Breakout Target 2) – $10.90
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $11.29
R1 – $11.60
R2 – $11.84
R3 – $12.15
R4 – $12.45
S1 – $11.05
S2 – $10.74
S3 – $10.50
S4 – $10.25
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