The US stock market is closed for the Good Friday holiday and resumes today. Meanwhile, here is a recap of Thursday: pronounced bearish sentiment in the market pushed the US auto giant into a notable 0.8% slide Thursday, falling 10 cents and ultimately closing at $12.33.
Ford Motor Co formed a session range of $12.29 to $12.48 leaving buyers and sellers highly concentrated around an active Fibonacci support level of $12.35. Technical analysis of Ford's past price action reveals multiple support and resistance levels: Ford could begin to recover as it approaches significant support, now 8 cents away from $12.25. Dipping below could be an indication that further losses are ahead.
Ford Motors was not the only decliner in the consumer discretionary sector; Toyota went down to $138.87, losing 1.1% after it closed at $140.42 Thursday.
On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Alibaba gained 4.25%, as it traded at $102.74. Amazon was up 0.95%.
Furthermore, United States EIA Short-Term Energy Outlook will be released tomorrow at 16:00 UTC.
Having set a significant high of $16.43 7 months ago, the US auto giant is trading 24.35% lower.
