Ford shares retreat a fourth straight session on Wednesday, company to introduce plug-in vehicle in China in 2018

According to an April 6th statement by Ford Motor Company (F), a plug-in hybrid car is to be introduced in China during 2018, while a fully electric sport-utility vehicle is to be launched during the upcoming five years.

Ford shares closed lower for a fourth straight trading session on Wednesday. The stock went down 0.97% ($0.11) to $11.26, after touching an intraday low at $11.25, or a price level not seen since November 9th 2016 ($11.07). In the week ended on April 2nd the shares of the global automotive company added 0.17% to their market value compared to a week ago, which marked the first gain in the past four weeks. The stock has extended its slump to 3.26% so far during the current month, following a 7.10% drop in March. The latter has been the largest monthly decrease since January 2016. For the entire past year, Ford shares lost 13.91%.

According to the manufacturers plans, 70% of Ford brand vehicles, which are sold in China, will be plug-in hybrids, conventional hybrids or full battery electric by the year 2025.

“The time is right for Ford to expand our EV (electric vehicle) lineup and investments in China”, Mark Fields, Fords Chief Executive Officer, said on Thursday, cited by Reuters.

Chinas government has recently been encouraging sales of more electric vehicles and subsidizing particular new models of energy vehicles. These measures are in line with Beijings stern fuel economy objectives and also represent a step further in the ongoing struggle to reduce air pollution in the country.

Daily and Weekly Pivot Levels

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

R1 – $11.28
R2 – $11.31
R3 (Range Resistance – Sell) – $11.33
R4 (Long Breakout) – $11.40
R5 (Breakout Target 1) – $11.48
R6 (Breakout Target 2) – $11.51

S1 – $11.24
S2 – $11.21
S3 (Range Support – Buy) – $11.19
S4 (Short Breakout) – $11.12
S5 (Breakout Target 1) – $11.04
S6 (Breakout Target 2) – $11.01

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

Central Pivot Point – $11.62
R1 – $11.82
R2 – $12.01
R3 – $12.21
R4 – $12.42

S1 – $11.43
S2 – $11.23
S3 – $11.04
S4 – $10.86