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Strong day for Ford Motor stock price on Monday rising 5.09% to $17.95

StockInvest.us, 2 months ago

Ford Motor

The Ford Motor stock price gained 5.09% on the last trading day (Monday, 1st Nov 2021), rising from $17.08 to $17.95. , and has now gained 4 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 5.27% from a day low at $17.07 to a day high of $17.97. The price has been going up and down for this period, and there has been a 15.36% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 121 million shares were bought and sold for approximately $2.17 billion.

On Oct 28, 2021 "Royal Bank of Canada" gave "$16.00 - $17.00" rating for F. The price target was changed from $15.51 to 2.7%.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $16.92, a level that may pose a second chance to hit a runner. According to fan-theory $19.55 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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 $16.52 and $14.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, October 27, 2021, and so far it has risen 15.73%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $16.86 and $15.51.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 $16.86. If this is broken, then the next support from accumulated volume will be at $15.51 and $14.16.

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 $0.90 between high and low, or 5.27%. For the last week, the stock has had a daily average volatility of 4.27%.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Ford Motor stock to perform well in the short-term period.

Check full Ford Motor forecast and analysis here.