Ford Motor Company (F) said on Friday that its total vehicle sales in China had registered a 36% annual drop in August to 62 683 units. At the same time, the companys year-to-date sales in the country shrank 27% compared to the same period of 2017 to 520 788 vehicles.
Ford shares closed lower for a second consecutive trading session in New York on Friday. It has also been the steepest daily loss since August 31st. The stock went down 1.70% ($0.16) to $9.27, after touching an intraday low at $9.25, or a price level not seen since August 30th 2012 ($9.25).
Shares of Ford Motor Company have retreated 25.78% so far in 2018 compared with a 7.41% gain for the underlying index, S&P 500 (SPX).
In 2017, Ford’s stock went up 2.97%, thus, it again underperformed the S&P 500, which registered a 19.42% return.
Sales at Changan Ford Automobile went down 50% year-on-year in August to a total of 34 541 vehicles.
Sales at Jiangling Motor Corporation dropped 5% year-on-year in August to 21 008 vehicles.
On the other hand, sales at the Lincoln brand were reported to have surged 13% year-on-year in August to a total of 5 312 vehicles.
“The all-new Ford Focus is the most innovative and dynamic Focus ever. Designed with Chinese customers in mind, it features advanced all-new powertrains, FordPass Connect, SYNC3 systems, and our segment-leading suite of driver-assist technologies, including Co-Pilot 360,” Peter Fleet, Fords President for the Asia Pacific region, said.
“We expect the new launches will better meet the needs of our customers in China by delivering more choices tailored to local preferences,” he added.
According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.00, with a high estimate of $15.00 and a low estimate of $7.00. The median estimate represents a 29.45% upside compared to the closing price of $9.27 on September 7th.
The same media also reported that 17 out of 23 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 – $9.292
R2 – $9.314
R3 (Range Resistance – Sell) – $9.336
R4 (Long Breakout) – $9.402
R5 (Breakout Target 1) – $9.479
R6 (Breakout Target 2) – $9.511
S1 – $9.248
S2 – $9.226
S3 (Range Support – Buy) – $9.204
S4 (Short Breakout) – $9.138
S5 (Breakout Target 1) – $9.061
S6 (Breakout Target 2) – $9.029
By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:
Central Pivot Point – $9.367
R1 – $9.483
R2 – $9.697
R3 – $9.813
R4 – $9.930
S1 – $9.153
S2 – $9.037
S3 – $8.823
S4 – $8.610
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
