Ford shares gain the most in two months on Friday, demand for F-Series remains strong in August

Demand for Fords F-Series reportedly continued to increase at a promising rate in August. While sales grew 15% to 77 007 vehicles last month, the average transaction price increased by $3 400 to $45 600 per vehicle.

Ford shares closed higher for a fourth consecutive trading session on Friday. It has also been the steepest daily surge since July 3rd. The stock went up 2.90% ($0.32) to $11.35, after touching an intraday high at $11.43, or a price level not seen since July 24th ($11.55). In the week ended on September 3rd the shares of the global automotive company added 4.90% to their market value compared to a week ago, which marked a second consecutive period of gains and also the best performance since the week ended on January 8th. The stock has risen 2.90% so far during the current month, following a 1.69% slump in August. The latter has been the first drop in the past three months. For the entire past year, the shares of the NYSE-listed company lost 13.91%. The stock has retreated 6.43% so far in 2017.

“We continue to see customers choosing high trim-level F-Series trucks for Super Duty and with new 2018 F-150 orders. We are seeing high demand overall for our F-Series lineup this year, outpacing full-size truck segment growth 2 to 1 with a 15 percent increase for August”, Mark LaNeve, US sales executive, was quoted as saying by Seeking Alpha.

On the other hand, total sales for the Ford brand shrank 2.0% to 201 189 vehicles in August, while those for Lincoln dropped 5.8% to 8 708 vehicles.

Meanwhile, the companys inventory levels increased to 67 days of supply in August from 65 days of supply during the same month a year ago.

According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.15, with a high estimate of $17.00 and a low estimate of $9.00. The median estimate is a 7.05% surge compared to the closing price of $11.35 on September 1st.

The same media also reported that 16 out of 26 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 7 – 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 – $11.38
R2 – $11.40
R3 (Range Resistance – Sell) – $11.43
R4 (Long Breakout) – $11.51
R5 (Breakout Target 1) – $11.60
R6 (Breakout Target 2) – $11.65

S1 – $11.32
S2 – $11.30
S3 (Range Support – Buy) – $11.27
S4 (Short Breakout) – $11.19
S5 (Breakout Target 1) – $11.10
S6 (Breakout Target 2) – $11.05

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

Central Pivot Point – $11.17
R1 – $11.61
R2 – $11.87
R3 – $12.31
R4 – $12.75

S1 – $10.91
S2 – $10.47
S3 – $10.21
S4 – $9.95