Ford Motor Company (F) stock is trading near support as the company announces a positive sales increase for the month of February
Ford Motor Company (NYSE:F) stock is trading near support during today’s trading session. The big blue ‘F’ symbol gaped up at the beginning of Monday trading only to retrace throughout the rest of intraday trading, and today is no exception. Shares of Ford are trading at $14.65 with about two hours left before the closing bell is to be struck.
Support for Ford rests at the $14.49 price level which is less than 20 cents away from the current going rate. While shares have not been able to regain footing above the 10 SMA since February 17th there is positive fundamental news to be found. Automotive sales for Ford increased in February by 22 percent with SUV sales topping truck sales by 3 percent for a total increase of 20 percent as opposed to a 17 percent increase for trucks. Car sales increased by a smaller margin, 7.8 percent however it’s a black sales figure rather than red which is hard to argue with.
Ford Motor Company (F) is one of the largest, most popular designers and manufacturers of automobiles in the world. With branches of the company scattered across the globe, Ford automobiles can be found nearly everywhere. Ford also has a hand in the financing of automobiles as another business unit of the company. The company has a market value of $50,108,558,190 at the time of writing, with 3,401,803,000 shares outstanding.