Ford shares close lower on Monday, vehicle sales in China shrink 8% year-on-year in November

Ford Motor Company (F) said it sold a total of 118 000 vehicles in China in November, or 8% fewer compared to November a year ago. At the same time, year-to-date sales were estimated to over 1 056 000 vehicles, or 6% fewer compared to the same period of 2016.

Ford shares closed lower for the fourth time in the past twelve trading sessions on Monday. The stock edged down 0.24% ($0.03) to $12.58, with the intraday high and the intraday low being at $12.63 and $12.51 respectively.

In the week ended on December 10th the shares of the global automotive company added 0.24% to their market value compared to a week ago, which marked a third consecutive period of gains.

However, due to yesterdays drop, the stock has pared its advance to 0.48% 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 3.71% so far in 2017.

Changan Ford Automobile (CAF) reportedly sold more than 84 000 vehicles in November, or 12% fewer compared to the same period a year ago, while sales for Jiangling Motor Corporation (JMC) were estimated at more than 26 000 vehicles during the month, or almost unchanged from a year earlier.

Sales for Lincoln grew 70% year-on-year to exceed 6 000 units in November, with its Continental model selling almost 1 400 vehicles during the month.

“Lincoln continued its strong sales performance in November, reaching a new monthly sales record”, Jason Luo, Ford Chinas Chairman and Chief Executive, was quoted as saying in the press release. “The upcoming launch of the new Navigator early in 2018 will enrich our Lincoln product portfolio even further”, Luo added.

Meanwhile, sales of Ford Mondeo continued to increase in November, up 61% year-on-year, to reach almost 12 000 vehicles, while sales of Ford Mustang went up 49% year-on-year.

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 3.34% surge compared to the closing price of $12.58 on December 11th.

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 – $12.591
R2 – $12.602
R3 (Range Resistance – Sell) – $12.613
R4 (Long Breakout) – $12.646
R5 (Breakout Target 1) – $12.685
R6 (Breakout Target 2) – $12.701

S1 – $12.569
S2 – $12.558
S3 (Range Support – Buy) – $12.547
S4 (Short Breakout) – $12.514
S5 (Breakout Target 1) – $12.475
S6 (Breakout Target 2) – $12.459

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

Central Pivot Point – $12.567
R1 – $12.853
R2 – $13.097
R3 – $13.383
R4 – $13.670

S1 – $12.323
S2 – $12.037
S3 – $11.793
S4 – $11.550