Ford shares close lower on Friday, truck production in Dearborn and Kansas City could be resumed on May 18th

According to a person with knowledge of the matter, production of Ford Motor Companys (F) F-150 pick-up trucks at facilities in Dearborn and Kansas City could be resumed as early as May 18th.

Ford shares closed lower for the seventh time in the past ten trading sessions on Friday. The stock edged down 0.18% ($0.02) to $11.19, with the intraday high and the intraday low being at $11.24 and $11.16 respectively.

In the week ended on May 13th the shares of the global automotive company lost 1.50% of their market value compared to a week ago, which marked a second consecutive period of decrease. It has also been the steepest drop since the week ended on April 22nd.

The stock has extended its loss to 0.44% so far during the current month, following a 1.44% surge in April. The latter has been a second straight month of gains.

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

Last week Ford closed truck factories in Michigan, Missouri as well as in Kentucky as a result of parts shortages due to fire eruption at a Meridian Magnesium Products plant, located in Eaton Rapids, Michigan, on May 2nd.

According to Reuters, citing sources, production of the affected parts is planned to be relocated to other suppliers so that the Michigan facility can be repaired.

Ford also said that production of its F-series Super Duty pickups at the facility in Louisville still remained suspended. On the other hand, production of large SUVs such as Lincoln Navigator and Ford Expedition at the same plant has remained unaffected.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $13.00, with a high estimate of $16.00 and a low estimate of $8.00. The median estimate is a 16.18% surge compared to the closing price of $11.19 on May 11th.

The same media also reported that 17 out of 24 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 5 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for Fords stock are presented as follows:

R1 – $11.197
R2 – $11.205
R3 (Range Resistance – Sell) – $11.212
R4 (Long Breakout) – $11.234
R5 (Breakout Target 1) – $11.260
R6 (Breakout Target 2) – $11.270

S1 – $11.183
S2 – $11.175
S3 (Range Support – Buy) – $11.168
S4 (Short Breakout) – $11.146
S5 (Breakout Target 1) – $11.120
S6 (Breakout Target 2) – $11.110

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

Central Pivot Point – $11.217
R1 – $11.413
R2 – $11.637
R3 – $11.833
R4 – $12.030

S1 – $10.993
S2 – $10.797
S3 – $10.573
S4 – $10.350