According to the US National Highway Traffic Safety Administration, it has rejected a petition by Ford Motor Company (F) related to delaying the recall of almost 3 million vehicles with potentially problematic air bag inflators. The auto maker did not immediately state whether it intended to challenge the decision.
Ford shares closed lower for the ninth time in the past eleven trading sessions on Friday. The stock edged down 0.25% ($0.03) to $12.01, with the intraday high and the intraday low being at $12.06 and $11.98 respectively.
In the week ended on November 19th the shares of the global automotive company remained unchanged from a week ago.
The stock has extended its loss to 2.12% 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 retreated another 0.99% so far in 2017.
According to a statement by the NHTSA on Friday, Fords request for a delay was not found “reasonable under the circumstances or supported by the testing and data it has collected to date”.
Inflators, manufactured by Takata Corp, could potentially explode with excessive force, while releasing metal shrapnel inside automobiles and trucks.
Such a defect has reportedly been the cause of at least 18 deaths and 180 injuries across the globe. The issue has also been the main reason behind recalls by at least 19 vehicle manufacturers.
Reuters reported that among affected vehicles were the 2006-2012 Fusion and Lincoln MKZ, 2007-2011 Ford Ranger, 2007-2010 Ford Edge and Lincoln MKX as well as the Mercury Milan models produced between 2006 and 2011.
According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $13.00, with a high estimate of $17.00 and a low estimate of $9.50. The median estimate is an 8.24% surge compared to the closing price of $12.01 on November 17th.
The same media also reported that 17 out of 26 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 – $12.016
R2 – $12.023
R3 (Range Resistance – Sell) – $12.029
R4 (Long Breakout) – $12.049
R5 (Breakout Target 1) – $12.071
R6 (Breakout Target 2) – $12.080
S1 – $12.004
S2 – $11.997
S3 (Range Support – Buy) – $11.991
S4 (Short Breakout) – $11.972
S5 (Breakout Target 1) – $11.949
S6 (Breakout Target 2) – $11.940
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $12.033
R1 – $12.197
R2 – $12.383
R3 – $12.547
R4 – $12.710
S1 – $11.847
S2 – $11.683
S3 – $11.497
S4 – $11.310
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