According to a Friday report by the Chinese state media Xinhua, a planned recall of Fords Fiesta ST vehicles in the Asian country has been postponed because of spare part delivery delays.
Ford shares closed higher for the sixth time in the past eight trading sessions on Friday. The stock went up 0.49% ($0.06) to $12.31, with the intraday high and the intraday low being at $12.33 and $12.19 respectively.
In the week ended on October 8th the shares of the global automotive company added 2.84% to their market value compared to a week ago, which marked a seventh consecutive period of gains. It has also been the sharpest weekly advance since the week ended on September 3rd.
The stock has extended its advance to 2.84% so far during the current month, following an 8.52% surge in September. The latter has been the best monthly performance since October 2015.
For the entire past year, the shares of the NYSE-listed company lost 13.91%. However, the stock has risen 1.48% so far in 2017.
According to the media, 435 imported vehicles manufactured between February 15th 2013 and November 11th 2014 are to be recalled, with the procedure now being expected to begin on November 20th, or over two months later than scheduled.
The reason behind the recall relates to defects in the engine cooling system, that could trigger coolant leaks and heighten the risk of fire eruption.
Two months ago the Chinese General Administration of Quality Supervision, Inspection and Quarantine said that the US auto maker was to recall 37 734 Explorer SUVs because of steering wheel dust cover issues.
According to CNN Money, the 24 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.15, with a high estimate of $17.00 and a low estimate of $9.00. The median estimate is a 1.30% decrease compared to the closing price of $12.31 on October 6th.
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 – $12.32
R2 – $12.34
R3 (Range Resistance – Sell) – $12.36
R4 (Long Breakout) – $12.39
R5 (Breakout Target 1) – $12.43
R6 (Breakout Target 2) – $12.45
S1 – $12.30
S2 – $12.28
S3 (Range Support – Buy) – $12.26
S4 (Short Breakout) – $12.23
S5 (Breakout Target 1) – $12.19
S6 (Breakout Target 2) – $12.17
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $12.25
R1 – $12.52
R2 – $12.74
R3 – $13.01
R4 – $13.29
S1 – $12.03
S2 – $11.76
S3 – $11.54
S4 – $11.33
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