Ford Motor Company (NYSE:F) Stock Advances
Ford Motor Company (NYSE:F) stock continued north during Monday’s trading session, today it will be seen if the trend will continue. Three days of gains have been had since Thursday of last week. The current resistance level in the path of a bullish trend is the price level of 12.15 set on 6/3.
Ford’s stock cannot go below 10.17 that was seen on 5/21 if investors are to presume a bullish trend change. On Balance Volume has been increasing since 5/21 where the most recent lowest low was seen. Money Flow Index shows the “F” stock was overbought during the same date and has been increasing as well.
Even if a retrace is seen, while Ford’s stock manages to stay above the statistics shown during 5/21, “F” stock should eventually become bullish again. One thing to be apprehensive of during the short term is that the support line built under the current minor uptrend creates a natural attraction zone to retrace to, granted only a minor retrace this should not pose a problem for long term investors.
Ron Gettelfinger, who is retiring as the chief of the United Auto Workers, recently stated that he believes that the worst stretch during the recovery of the American automotive industry is behind us and points towards a brighter future. Ford incurred profits of over 2.7 billion dollars for 2009 and has managed to generate profits amounting to 2.1 billion during the first quarter of this year.
Between a persons statements who has a good insight on the industry and has not a thing to lose from retiring, then profit figures of Ford, things are looking well for the “F” stock.