Yesterday at a glance: Ford Motors ended Thursday at $12.55. yesterday it went up to $13.11 only to drop back, yet still managed to close at $13.08.
Meanwhile, United States ISM Non-Manufacturing PMI (Feb) came out at 55.1, while a consensus of analysts was expecting 54.5. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 224,200, while the previous figure was 243,800. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 128,800, while the previous figure was 160,300.
Ford Motor Co made an initial breakout above its 21 day Simple Moving Average at $12.84, a potential indicator of a newly emerging bullish phase. Despite this, Ford is 16 cents away from testing key resistance at $13.24. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems Ford might continue pointing upwards in the short term.
This rally in Ford Motors's share price coincided with other consumer discretionary stocks as Amazon traded at $94.9 after closing yesterday's trading day at $92.13 (up 3%). Walt Disney was up 2.24%. Toyota was up 1.86%.
Ford hit a significant low of $10.95 around 2 months ago, but has since recovered 14.61%.