Recent price action observation
As of October 18, 2017, Ford stock (F) was trading at $12.19. After posting a fresh 52-week low of $10.47 in August, the company’s stock has risen 16.4%. Ford stock was moving in a downward sloping channel for more than the last two years until September when it violated the upper boundary of this channel. Now, let’s look at some key support and resistance areas in Ford stock ahead of its 3Q17 earnings event.
Important technical levels
On Ford stock’s daily price chart, the 200-day moving average was at $11.65, which could act as an immediate support in the coming weeks. Only a sustainable breach below this support could trigger renewed selling in the stock. The 14-day RSI (relative strength index) indicator was hovering near 60.2, showcasing neutral bias in momentum. A key horizontal resistance in Ford stock was near $13.20.
Read A Must-Read Guide to Ford Motor Company, an Auto Industry Pioneer, to learn about Ford’s business and financials.
Auto industry’s 3Q17 earnings season
The auto industry’s (XLY) 3Q17 earnings season started with Harley-Davidson (HOG), which reported dismal third quarter earnings results on October 17, 2017. Read Why Harley-Davidson’s 3Q17 Earnings Continued to Skid to learn more.
General Motors (GM) and Fiat Chrysler (FCAU) are also set to release their second-quarter results in the next couple of weeks. Auto investors can stay updated on analysts’ estimates for these auto companies by visiting Market Realist’s Auto page.