Ford shares close higher on Wednesday, company partners with Lyft to increase the number of its self-driving vehicles

Ford Motor Company (F) was reported to have formed a partnership with Lyft in an attempt to increase the number of its self-driving vehicles in the US.

Ford shares closed higher for the fourth time in the past six trading sessions on Wednesday. The stock edged up 0.17% ($0.02) to $11.95, with the intraday high and the intraday low being at $12.02 and $11.86 respectively. In the week ended on September 24th the shares of the global automotive company added 1.89% to their market value compared to a week ago, which marked a fifth consecutive period of gains. The stock has extended its advance to 8.34% so far during the current month, following a 1.69% slump in August. The latter has been the first drop in the past three months. For the entire past year, the shares of the NYSE-listed company lost 13.91%. The stock has retreated 1.48% so far in 2017.

According to Sherif Marakby, Fords vice president for autonomous vehicles and electrification, the partnership would enable Fords vehicles to communicate with the ride-sharing application by Lyft.

The two companies will collaborate in finding which cities and what type of infrastructure may suit the self-driving rollout the most.

“Think of it this way: Someday, when you open the Lyft app during a period of high demand, Ford and Lyft software will need to be capable of quickly dispatching a self-driving vehicle so that you can get to your destination as quickly and as safely as possible”, Marakby said in a blog post, cited by Business Insider.

According to CNN Money, the 25 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.00, with a high estimate of $17.00 and a low estimate of $9.00. The median estimate is a 0.42% surge compared to the closing price of $11.95 on September 27th.

The same media also reported that 16 out of 26 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 7 – 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 – $11.96
R2 – $11.98
R3 (Range Resistance – Sell) – $12.00
R4 (Long Breakout) – $12.04
R5 (Breakout Target 1) – $12.09
R6 (Breakout Target 2) – $12.11

S1 – $11.94
S2 – $11.92
S3 (Range Support – Buy) – $11.90
S4 (Short Breakout) – $11.86
S5 (Breakout Target 1) – $11.81
S6 (Breakout Target 2) – $11.79

By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:

Central Pivot Point – $11.77
R1 – $11.94
R2 – $12.04
R3 – $12.21
R4 – $12.38

S1 – $11.67
S2 – $11.50
S3 – $11.40
S4 – $11.30