Ford shares fall the most in two weeks on Tuesday, vehicle sales in China shrink 5% in October

According to a press release by Ford Motor Company (F), total vehicle sales in China shrank 5% last month to 105 809 units from a year ago. Customer demand remained strong for models such as Mondeo and Kuga during the period, as both nameplates registered double-digit growth compared to October 2016.

Ford shares closed lower for a third consecutive trading session on Tuesday. It has been the steepest daily loss since October 27th. The stock went down 1.38% ($0.17) to $12.16, after touching an intraday low at $12.11, or a price level not seen since October 30th ($11.95).

In the week ended on November 5th the shares of the global automotive company added 2.49% to their market value compared to a week ago, which marked the best performance since the week ended on October 8th.

The stock has neutralized earlier advance and is now down 0.90% so far during the current month, following a 2.51% surge in October. The latter has been a second consecutive month of gains.

For the entire past year, the shares of the NYSE-listed company lost 13.91%. The stock has rebounded 0.25% so far in 2017.

“Both Lincoln and JMC set new records for October sales in China. Lincoln continues to grow rapidly, with year-to-date sales up 85 percent”, Jason Luo, Chairman and Chief Executive of Ford China, was quoted as saying.

Lincoln sales soared 48% last month to 5 514 vehicles, while sales at Jiangling Motor Corporation went up 6% to reach 25 275 units. On the other hand, sales at Changan Ford Automobile dropped 11% to 73 551 vehicles in October.

Sales of Ford Mondeo rose 13% year-on-year to more than 10 000 vehicles in October, while sales of Ford Kuga grew 11% from a year ago. Ford Escort sales exceeded 29 000 vehicles during the month, while increasing at an annual rate of 6%.

Ford Motor Company’s year-to-date sales in China were reported to have shrunk 5% compared to the same period a year ago to 938 570 vehicles.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.30, with a high estimate of $17.00 and a low estimate of $9.00. The median estimate is a 1.15% surge compared to the closing price of $12.16 on November 7th.

The same media also reported that 17 out of 25 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 5 – 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 – $12.18
R2 – $12.21
R3 (Range Resistance – Sell) – $12.23
R4 (Long Breakout) – $12.31
R5 (Breakout Target 1) – $12.40
R6 (Breakout Target 2) – $12.43

S1 – $12.14
S2 – $12.11
S3 (Range Support – Buy) – $12.09
S4 (Short Breakout) – $12.01
S5 (Breakout Target 1) – $11.92
S6 (Breakout Target 2) – $11.89

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

Central Pivot Point – $12.26
R1 – $12.57
R2 – $12.78
R3 – $13.09
R4 – $13.40

S1 – $12.05
S2 – $11.74
S3 – $11.53
S4 – $11.32