Ford shares gain for a second straight session on Friday, European vehicle sales rise 2% in July

Ford Motor Company (F) said on Friday that its total vehicle sales in Europe went up 1.7% to 101 800 units in July compared to the same month a year earlier, as growth was observed in 10 out of 20 traditional European markets.

The auto maker said that vehicle sales in Spain (up 17.2%), France (up 11.0%) and Germany (up 5.9%) rose at the largest annual rates.

At the same time, Fords total vehicle market share shrank by 40 basis points to 7.0% in July.

Ford shares closed higher for a second consecutive trading session in New York on Friday. The stock went up 0.42% ($0.04) to $9.55, with the intraday high and the intraday low being at $9.60 and $9.46 respectively.

Shares of Ford Motor Company have retreated 23.54% so far in 2018 compared with a 6.60% gain for the underlying index, S&P 500 (SPX).

In 2017, Ford’s stock surged 2.97%, thus, it again underperformed the S&P 500, which registered a 19.42% return.

Sales of passenger vehicles went up 1.4% to 74 300 units in July compared to July 2017.

Sales of commercial vehicles rose 2.5% year-on-year to 27 500 units last month.

Meanwhile, sales of Sports Utility Vehicles (SUVs) registered annual growth of over 31% in July in Fords 20 traditional European markets.

The US auto makers EcoSport and Kuga models registered record sales last month, rising at annual rates of 110% and 5% respectively.

Additionally, sales of Fiesta, the companys bestselling model in Europe, registered a 63% annual growth in July.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $12.00, with a high estimate of $15.00 and a low estimate of $7.00. The median estimate represents a 25.65% upside compared to the closing price of $9.55 on August 17th.

The same media also reported that 17 out of 23 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 5 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for Fords stock are presented as follows:

R1 – $9.563
R2 – $9.576
R3 (Range Resistance – Sell) – $9.589
R4 (Long Breakout) – $9.627
R5 (Breakout Target 1) – $9.672
R6 (Breakout Target 2) – $9.691

S1 – $9.537
S2 – $9.524
S3 (Range Support – Buy) – $9.512
S4 (Short Breakout) – $9.473
S5 (Breakout Target 1) – $9.428
S6 (Breakout Target 2) – $9.409

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

Central Pivot Point – $9.550
R1 – $9.750
R2 – $9.950
R3 – $10.150
R4 – $10.350

S1 – $9.350
S2 – $9.150
S3 – $8.950
S4 – $8.750