Ford shares fall the most in three weeks on Thursday, total vehicle sales in the United States shrink 7% in February

March 2, 2018 10:58 am

Ford Motor Company’s (F) overall auto sales in the United States were reported to have shrunk 6.9% to 194 132 vehicles in February in comparison with the same month of 2017. That compares with a 6% sales growth expected by Edmunds.

Ford shares closed lower for the second time in the past six trading sessions on Thursday. It has also been the steepest daily loss since February 8th. The stock went down 3.02% ($0.32) to $10.29, after touching an intraday low at $10.20, or a price level not seen since February 6th ($10.19).

In the week ended on February 25th the shares of the global automotive company added 0.85% to their market value compared to a week ago, which marked a second consecutive period of gains.

However, the stock retreated 3.28% in February, which marked a third straight month of losses.

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

Last month, sales of passenger cars in the United States dropped 12.1% year-on-year to 44 498 units, Ford said in a press release on Thursday.

At the same time, sales of sport-utility vehicles (SUVs) shrank 12.3% year-on-year to a total of 65 250 units during the month. Ford Expedition sales registered a 41.4% growth, while sales of Lincoln Navigator soared 60.1%. Meanwhile, sales of Ford EcoSport totaled 2 300 vehicles in February.

Ford’s total truck sales grew 1.2% year-on-year to 84 384 units during the past month. Sales of Ford’s F-Series marked the best February performance in 18 years, as the company sold 68 243 trucks. The average transaction price increased by $1 500 to $47 200 per truck, Ford said.

“Our higher trim level vehicles are really resonating with our customers, who are looking for more content and technology than ever before. This is especially true of our trucks and SUVs. Our all-new Ford Expedition and Lincoln Navigator are moving fast, as we work to increase our output to keep up with our customers’ passion for these two vehicles”, Mark LaNeve, Ford’s vice president of US Marketing, Sales and Service, was quoted as saying in the company’s press release.

According to CNN Money, the 22 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 $8.00. The median estimate is a 26.34% surge compared to the closing price of $10.29 on March 1st.

The same media also reported that 17 out of 24 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 – $10.33
R2 – $10.38
R3 (Range Resistance – Sell) – $10.42
R4 (Long Breakout) – $10.56
R5 (Breakout Target 1) – $10.72
R6 (Breakout Target 2) – $10.78

S1 – $10.25
S2 – $10.20
S3 (Range Support – Buy) – $10.16
S4 (Short Breakout) – $10.02
S5 (Breakout Target 1) – $9.86
S6 (Breakout Target 2) – $9.80

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

Central Pivot Point – $10.67
R1 – $10.78
R2 – $10.87
R3 – $10.98
R4 – $11.10

S1 – $10.58
S2 – $10.47
S3 – $10.38
S4 – $10.30

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