A quick look at Friday: a tough session dominated by bearish sentiment left Ford 91 cents lower, while setting a $12.08 to $12.82 session range.
Ford chart analysis: Ford Motor Co could begin to recover as it approaches significant support, now 26 cents away from $11.86. Dipping below could be an indication that further losses are ahead. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Price action remains constrained around the key Fibonacci level of $12.15 currently serving as support. If price action breaks below, the next Fib hurdle is $11.77. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $12.34, a low enough level to, generally, suggest that Ford is trading below its fair value.
All in all, the technical analysis suggests Ford has no clear-cut direction.
Ford Motors was not the only decliner in the consumer discretionary sector; McDonald's drops 2.06% Friday to close at $271.73. Tesla went down 4.72%, closed at $157.67. Nike lost 2.36% Friday and closed at $105.95.
Furthermore, United States Building Permits (Nov) will be released tomorrow at 13:30 UTC.
On a negative trend for around a month. The US automaker reached a significant high of $25.19 around 11 months ago but has lost 48.27% since then.