According to a June 23rd statement by Ford Motor Company (F), 15 600 Ikon and Figo models are to be recalled in South Africa, because of a potential risk of fire eruption. The models affected were manufactured in India within the period 2004-2012.
Ford shares closed higher for a second time in the past five trading sessions on Thursday. The stock went up 0.82% ($0.09) to $11.13, with the intraday high and the intraday low being at $11.18 and $11.00 respectively. In the week ended on June 18th the shares of the global automotive company added 0.81% to their market value compared to a week ago, which marked the third gain in the past four weeks. The stock has neutralized earlier losses and is now up 0.09% 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%.
“A power steering fluid leak could result in fumes being emitted from the engine compartment”, Ford said in a statement, cited by Reuters. “It may also be possible for power steering fluid to come into contact with the vehicles exhaust system components, creating the potential for smoke and, in extreme cases, fire.”
According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.50, with a high estimate of $17.00 and a low estimate of $9.00. The median estimate is a 12.31% surge compared to the closing price of $11.13 on June 22nd.
The same media also reported that 15 out of 26 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 – $11.15
R2 – $11.16
R3 (Range Resistance – Sell) – $11.18
R4 (Long Breakout) – $11.23
R5 (Breakout Target 1) – $11.29
R6 (Breakout Target 2) – $11.31
S1 – $11.11
S2 – $11.10
S3 (Range Support – Buy) – $11.08
S4 (Short Breakout) – $11.03
S5 (Breakout Target 1) – $10.97
S6 (Breakout Target 2) – $10.95
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $11.21
R1 – $11.37
R2 – $11.51
R3 – $11.67
R4 – $11.82
S1 – $11.07
S2 – $10.91
S3 – $10.77
S4 – $10.62
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