Without a clear direction, Ford closed at $13.75 while ranging between $13.71 and $13.9.
- United States ADP Nonfarm Employment Change (Nov) is next today at 13:15 UTC.
- While flat so far today, Ford is on a 12 day bearish trend during which it lost 77 cents of its value.
Earlier data releases related to Ford – United States Consumer Confidence beat the 100 projections, with 100.2. United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -7.85 million, while the previous figure was -4.82 million.
Here is the technical analysis of Ford before its data is released:
Ford Motor Co made an initial break below its 21 day Simple Moving Average at $13.78, a possible indication of a forthcoming negative trend. On the other hand, note that Ford Motors is approaching key support, around 8 cents away from $13.67. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Ford is positioned for a downward move in the near term.
Coming up for Ford — United States Pending Home Sales is projected to outperform its last figure with -5%. It previously stood at -10.2%; data will be released today at 15:00 UTC. United States Core PCE Price Index (MoM) (Oct) is expected tomorrow at 13:30 UTC.
As the markets get ready for more data to be released — Alibaba was up 5.25%. Amazon went down to $92.42, losing 1.63% after it closed at $93.95 yesterday. Nike gained 1.23%, as it traded at $106.25.
The stock has been trending positively for about a month. 10 months ago the US auto giant reached a significant high of $25.19 but has consequently lost 45.49% since then.