Ford shares gain for a second session in a row on Wednesday, December vehicle sales in the United States beat estimates

Total vehicle sales in the United States by Ford Motor Company (F) were reported to have risen 0.9% to 242 049 units in December 2017 compared to the same month a year earlier, which outstripped an estimate by Kelley Blue Book of a 2.4% drop.

Ford shares closed higher for a second consecutive trading session on Wednesday. The stock went up 0.79% ($0.10) to $12.76, after touching an intraday high at $12.80, or a price level not seen since December 4th ($12.81).

In the week ended on December 31st the shares of the global automotive company lost 0.72% of their market value compared to a week ago, which marked the second drop out of six weeks.

The stock has extended its advance to 2.16% so far during the current month, following a 0.24% drop in December. The latter has been the first monthly retreat since August.

For the entire past year, the shares of the NYSE-listed company rose 2.97% following a 13.91% slump in 2016.

Fords brand sales went up 1.9% year-on-year to 231 430 vehicles in December, while sales at the Lincoln brand dropped 17.0% year-on-year to 10 619 vehicles.

Fords total sales for 2017, on the other hand, shrank 1.1% to 2 586 715 vehicles from 2 614 697 vehicles sold in 2016.

In December, total sales of passenger cars fell 5.5% year-on-year to 48 380 units, while those of trucks dropped 1.0% year-on-year to 110 788 units.

Meanwhile, total sales of SUVs rose 8.0% to 82 881 units during the past month, of which Ford SUV sales surged 10.3% to 75 771 units. Explorer was the best performing SUV model at the Ford brand in December, with sales rising 33.3% year-on-year. At the same time, Flex was the worst performing SUV last month, with sales plummeting 40.6% year-on-year.

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 $15.00 and a low estimate of $9.50. The median estimate is a 1.88% surge compared to the closing price of $12.76 on January 3rd.

The same media also reported that 17 out of 25 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 4 – 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 – $12.772
R2 – $12.784
R3 (Range Resistance – Sell) – $12.796
R4 (Long Breakout) – $12.832
R5 (Breakout Target 1) – $12.873
R6 (Breakout Target 2) – $12.891

S1 – $12.748
S2 – $12.736
S3 (Range Support – Buy) – $12.724
S4 (Short Breakout) – $12.689
S5 (Breakout Target 1) – $12.647
S6 (Breakout Target 2) – $12.629

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

Central Pivot Point – $12.530
R1 – $12.610
R2 – $12.730
R3 – $12.810
R4 – $12.890

S1 – $12.410
S2 – $12.330
S3 – $12.210
S4 – $12.090