Ford shares fall the most in a week on Thursday, mid-sized sedan production to be relocated to China in 2020

According to sources with knowledge of the situation, citing documents that Ford Motor Company (F) shared with suppliers, production of mid-sized sedans such as Mondeo and Fusion is to be relocated to China in 2020 from Spain and Mexico respectively.

Ford shares closed lower for the fifth time in the past fifteen trading sessions on Thursday. It has also been the steepest daily loss since December 5th. The stock went down 1.35% ($0.17) to $12.46, after touching an intraday low at $12.41, or a price level not seen since December 7th ($12.33).

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 slump, the stock has neutralized earlier advance and is now down 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 went down 13.91%. The stock has rebounded 2.72% so far in 2017.

The sources also noted that Ford documents no longer listed Hermosillo, Mexico and Valencia, Spain as production facilities.

Meanwhile, Ford did not hint what the future would hold for the sites in Mexico and Spain, which, at present, manufacture mid-sized sedans for markets in North America and Europe respectively.

In a statement, the US auto maker said that “we have no plans to export the next-generation Fusion/Mondeo from China to North America and Europe. Fusion/Mondeo are an important part of the Ford car lineup. We will have more information to share about the next Fusion/Mondeo at a later date.”

Year-to-date sales of Ford Fusion in the United States were reported to have shrunk 22%, while sales of Ford Mondeo in Europe have dropped 21%.

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 4.33% surge compared to the closing price of $12.46 on December 14th.

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 – $12.486
R2 – $12.511
R3 (Range Resistance – Sell) – $12.537
R4 (Long Breakout) – $12.614
R5 (Breakout Target 1) – $12.704
R6 (Breakout Target 2) – $12.741

S1 – $12.434
S2 – $12.409
S3 (Range Support – Buy) – $12.383
S4 (Short Breakout) – $12.306
S5 (Breakout Target 1) – $12.216
S6 (Breakout Target 2) – $12.179

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