Ford Motor Company (NYSE:F) stock is trading near support after beginning a new week of trading to the downside. The big blue ‘F’ symbol has fallen through the 50 moving average like a hot knife through butter which previously had provided support on two separate occasions (4th & 8th of April,) and is now trading near support located at the $14.71 price level – mere cents away. Beyond eight minutes into the intraday session Ford has seen not much more than all downside price action.
It is important to note that unless Ford breaks below support of the intermediate trend (opposed to the yearly trend, which is down,) shares still have a positive bias. Nonetheless, Ford has continued into Monday trading heading south as stochastic descends from overbought. Should shares pierce $14.71 the 200 moving average should provide a secondary support barrier as it had throughout mid March (‘F’ was unable to close beneath it.)
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 $55,181,911,900 with 3,725,990,000 shares outstanding at the time of writing.