Recent price action
As of January 16, 2018, Ford stock (F) was trading at $12.19. After posting a fresh 52-week low of $10.47 in August, the stock has risen ~25%. Ford stock was moving on a downward sloping channel for more than two years until September 2017 when it violated the upper boundary of that channel. This violation of a descending or downward sloping price channel reflected a gradual positive shift in its price trend. Now let’s look at some key support and resistance areas in Ford stock ahead of its 4Q17 earnings event.
Key technical levels
On the Ford stock daily price chart, its 50-period SMA (simple moving average) was $12.50, which is close to a horizontal support level near $12.40. A sustainable breach below this support level could trigger renewed selling of the stock.
Its 14-day RSI (relative strength index) indicator was hovering near 62.4, showing a minor strength bias in momentum. A key horizontal resistance in Ford stock is $13.80.
Read A Must-Read Guide to Ford Motor Company, an Auto Industry Pioneer to learn about Ford’s business and financials.
Auto industry’s 4Q17 earnings season
The auto industry’s (IYK) 4Q17 earnings season will begin with Ford’s earnings results on January 24, 2018. Ford’s direct peers Fiat Chrysler (FCAU) and General Motors (GM) are set to release their fourth-quarter results on January 25, 2018, and February 6, 2018, respectively. Legacy motorcycle maker Harley-Davidson (HOG) is expected to release its 4Q17 results on January 30, 2018.