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A very strong day for Ford Motor stock price on Thursday

StockInvest.us, 3 months ago

Ford Motor

The Ford Motor stock price gained 7.05% on the last trading day (Thursday, 27th May 2021), rising from $13.90 to $14.88. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 6.59% from a day low at $14.12 to a day high of $15.05. The price has risen in 6 of the last 10 days and is up by 28.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 54 million more shares were traded than the day before. In total, 277 million shares were bought and sold for approximately $4.12 billion.

Tudor Pickering is very positive about F and gave it a "Buy" rating on May 24, 2021. The price target was set to $17.00.Over the last 30 days, this security got 3 buy, 0 sell, and 0 hold ratings.

The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $13.20 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $15.21 sometime during the next 3 months.

Ford Motor

The Ford Motor stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $13.23 and $12.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 29, 2021, and so far it has risen 32.15%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $13.90 and $12.49.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ford Motor finds support just below today's level at $13.90. If this is broken, then the next support from accumulated volume will be at $12.49 and $11.26.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.93 between high and low, or 6.59%. For the last week, the stock has had a daily average volatility of 5.74%.

The Ford Motor stock is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Ford Motor holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full Ford Motor forecast and analysis here.