FORD BULLISH AFTER REPORTING SALES RISE
Ford Motors is currently trading at $9.52–higher by 0.21 %. The stock closed at $9.50 on Wednesday higher by 0.4% from the last closing.
In recent news, Ford Motors reported on Tuesday that its August U.S. sales rose 4.1% from a year ago to 218,504 vehicles. The automaker also said that its truck sales grew 5.7% and SUV sales jumped 20.1% while car sales tumbled 21.3%.
In other related news, Ford Motor Co said on Thursday that it would recall 2 million F-150 pickup trucks in North America to address fire and smoke concerns in seat-belt pretensioners. The U.S. automaker also said that it was aware of 17 reports of smoke or fire in the United States and six in Canada relating to the issue, but was not aware of any accidents or injuries as a result of this condition. Ford disclosed that the recall included 1.62 million U.S. vehicles, 340,000 in Canada and 37,000 in Mexico.
On the technical front, RSI is currently at 38.93% and suggests that the market can move in the upward direction. The current price is coinciding with the MA5. The current price is below the middle line of the Bollinger bands but is heading upwards.
The impact of sales on the stock is positive while recalling news have a negative impact. Overall Bias is positive and trade can be done with tight Stop loss.
TRADE SUGGESTION-LIMIT BUY AT 9.48 TAKE PROFIT AT 9.60 STOP LOSS AT 9.42