Ford shares close lower on Wednesday, company reveals details for its 2020 Mustang Shelby GT500

Yesterday Ford Motor Company (F) disclosed more details regarding its 2020 Mustang Shelby GT500. With its 760 horsepower and 625 lb.-ft of torque, as of yet, it is Fords most powerful street-legal automobile.

Ford shares closed lower for the fifth time in the past thirteen trading sessions in New York on Wednesday. The stock went down 0.59% ($0.06) to $10.04, after touching an intraday low at $10.03, or a price level not seen since June 17th ($9.94).

Shares of Ford Motor Company have risen 31.24% so far in 2019 compared with a 16.74% gain for the benchmark index, S&P 500 (SPX).

In 2018, Ford Motor Co’s stock went down 38.75%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

Equipped with a 5.2 liter V-8 engine, Fords Shelby GT500 is capable of accelerating from 0 to 60 miles per hour within the “mid-3 second range” and is expected to take a quarter-mile distance in less than 11 seconds.

The new Mustang also has a Carbon Fiber Track package without a rear seat so that overall weight can be reduced.

According to Daniel Barbossa, a spokesperson for Ford, the third-generation GT500 cannot be ordered yet, but it is expected to be in dealerships during the fall.

Ford unveiled the 2020 Mustang Shelby GT500 at the North American International Auto Show in Detroit, Michigan, in January.

According to CNN Money, the 17 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $10.00, with a high estimate of $14.00 and a low estimate of $8.40. The median estimate represents a 0.40% downside compared to the closing price of $10.04 on June 19th.

The same media also reported that 10 out of 18 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 6 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Weekly Pivot Levels

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

Central Pivot Point – $9.93
R1 – $10.11
R2 – $10.23
R3 – $10.41
R4 – $10.58

S1 – $9.81
S2 – $9.63
S3 – $9.51
S4 – $9.38