During an event in Shanghai yesterday, Ford Motor Company (F) announced plans to introduce 50 new vehicles in China by the year 2025, 15 of which are expected to be electrified vehicles. The news came at a time, when the US auto maker is seeking to accelerate its sales growth in the largest auto market worldwide.
Ford shares closed lower for the second time in the past eight trading sessions on Tuesday. It has also been the steepest daily loss since October 27th. The stock went down 1.58% ($0.20) to $12.43, with the intraday high and the intraday low being at $12.61 and $12.40 respectively.
In the week ended on December 3rd the shares of the global automotive company added 3.97% to their market value compared to a week ago, which marked a second consecutive period of gains. It has also been the best performance since the week ended on September 3rd.
However, due to yesterdays retreat, the stock has neutralized earlier gains and is now down 0.72% so far during the current month, following a 2.04% surge in November. The latter has been a third consecutive month of gains.
For the entire past year, the shares of the NYSE-listed company lost 13.91%. The stock has rebounded 2.47% so far in 2017.
“Between now and 2025, we will launch 50 new vehicles in China, and of those 50 new vehicles, 15 of them will be all-new electrified vehicles”, Peter Fleet, Ford’s head of Asia Pacific, was quoted as saying by Reuters.
According to Fleet, Fords revenue in China may increase by about 50% by 2025.
The Chinese government has signaled a longer-term move away from traditional internal combustion engine vehicles, while urging auto manufacturers to begin shifting their focus on electric and hybrid petrol-electric vehicles.
The major shift in the Chinese auto market has led to a wave of electric vehicle joint ventures by some auto makers. Ford has already disclosed an electric vehicle partnership with China’s Anhui Zotye Automobile Co Ltd.
According to CNN Money, the 24 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 a 4.59% surge compared to the closing price of $12.43 on December 5th.
The same media also reported that 18 out of 27 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 – $12.449
R2 – $12.469
R3 (Range Resistance – Sell) – $12.488
R4 (Long Breakout) – $12.546
R5 (Breakout Target 1) – $12.613
R6 (Breakout Target 2) – $12.641
S1 – $12.411
S2 – $12.392
S3 (Range Support – Buy) – $12.372
S4 (Short Breakout) – $12.315
S5 (Breakout Target 1) – $12.247
S6 (Breakout Target 2) – $12.219
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $12.447
R1 – $12.833
R2 – $13.087
R3 – $13.473
R4 – $13.860
S1 – $12.193
S2 – $11.807
S3 – $11.553
S4 – $11.300
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
