Ford shares close lower on Thursday, Ford Sollers to boost personnel by 700 due to growing auto demand in Russia

According to a Thursday statement by Ford, its joint venture in Russia intends to increase staff at a facility in Elabuga, Tatarstan by over 700 people in order to respond to higher auto demand, more specifically for SUVs and light commercial vans. Ford Sollers is to begin recruiting in October.

Ford shares closed lower for the first time in the past four trading sessions on Thursday. It has also been the steepest daily loss since September 7th. The stock went down 0.52% ($0.06) to $11.56, with the intraday high and the intraday low being at $11.68 and $11.48 respectively. In the week ended on September 10th the shares of the global automotive company added 0.09% to their market value compared to a week ago, which marked a third consecutive period of gains. The stock has trimmed its advance to 4.81% 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 4.70% so far in 2017.

“Development of SUV and light commercial vehicle line-ups is the core of our strategy now”, Adil Shirinov, Ford Sollers Chief Executive Officer, was quoted as saying by Reuters. “We are committed to growing our market share in 2018 as well.”

The companys plant in Elabuga is to specialize in the assembly of models such as Explorer, Kuga and Transit.

A second shift is to be added to that facility for the first time in four years.

According to CNN Money, the 25 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.00, with a high estimate of $17.00 and a low estimate of $9.00. The median estimate is a 3.81% surge compared to the closing price of $11.56 on September 14th.

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 – $11.58
R2 – $11.60
R3 (Range Resistance – Sell) – $11.62
R4 (Long Breakout) – $11.67
R5 (Breakout Target 1) – $11.73
R6 (Breakout Target 2) – $11.76

S1 – $11.54
S2 – $11.52
S3 (Range Support – Buy) – $11.50
S4 (Short Breakout) – $11.45
S5 (Breakout Target 1) – $11.39
S6 (Breakout Target 2) – $11.36

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

Central Pivot Point – $11.38
R1 – $11.51
R2 – $11.67
R3 – $11.80
R4 – $11.94

S1 – $11.22
S2 – $11.09
S3 – $10.93
S4 – $10.78