Ford shares rebound on Thursday, 2 900 pickup owners urged to discontinue driving as company confirms second Takata death

January 12, 2018 8:37 am

According to a statement by Ford Motor Company (F) on Thursday, a second death was confirmed in one of its older pickup models resulting from a faulty Takata airbag inflator. Meanwhile, 2 900 pickup owners in North America were reportedly urged by the auto maker to discontinue driving immediately until replacement parts were obtained.

Ford shares closed higher for the fifth time in the past eight trading sessions on Thursday. The stock went up 1.00% ($0.13) to $13.16, with the intraday high and the intraday low being at $13.20 and $13.01 respectively.

In the week ended on January 7th the shares of the global automotive company added 5.68% to their market value compared to a week ago, which marked the first gain out of four weeks. It has also been the best performance since the week ended on December 11th 2016.

The stock has extended its advance to 5.36% so far during the current month, following a 0.24% drop in December. The latter has been the first monthly retreat since August.

For the entire past year, the shares of the NYSE-listed auto maker rose 2.97% following a 13.91% slump in 2016.

A crash death that occurred in July 2017 in West Virginia resulted from a defective Takata inflator in a Ford Ranger manufactured in 2006, the auto maker said it was able to confirm in December.

A similar death was reported in January 2016.

According to Ford, inflators involved in both death cases were manufactured on one and the same day.

Inflators, produced by Takata Corp, could potentially explode with excessive force, while releasing metal shrapnel inside automobiles and trucks.

Such a defect has reportedly been the cause of at least 21 deaths across the globe. The issue has also been the main reason behind recalls by at least 19 vehicle manufacturers.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $13.00, with a high estimate of $15.00 and a low estimate of $9.50. The median estimate is a 1.22% decrease compared to the closing price of $13.16 on January 11th.

The same media also reported that 17 out of 25 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 4 – as “Buy”. On the other hand, 2 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Ford stock are presented as follows:

R1 – $13.177
R2 – $13.195
R3 (Range Resistance – Sell) – $13.212
R4 (Long Breakout) – $13.265
R5 (Breakout Target 1) – $13.326
R6 (Breakout Target 2) – $13.352

S1 – $13.143
S2 – $13.125
S3 (Range Support – Buy) – $13.108
S4 (Short Breakout) – $13.056
S5 (Breakout Target 1) – $12.994
S6 (Breakout Target 2) – $12.968

By using the traditional method of calculation, the weekly levels of importance for Ford Motor Company (F) are presented as follows:

Central Pivot Point – $12.973
R1 – $13.447
R2 – $13.693
R3 – $14.167
R4 – $14.640

S1 – $12.727
S2 – $12.253
S3 – $12.007
S4 – $11.760

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