- Ford Stock Price (NYSE: F) fell 6% and returned back to test the EMAs.
- F Stock Price sustained above the 200 day EMA and displayed a golden crossover.
- Ford Motor’s next quarterly earnings are scheduled on July 27 2023.
Ford Stock Price (NYSE: F) fell 6% approx in a single day and showed initial signs of bearish trend reversal. It faced rejection from $15.00 and formed a strong bearish candle.
F Stock Price sustains above the 50 and 200 day EMA showcase the positional trend is still in upward direction. Recently, EMAs displayed a golden crossover which boosted the confidence of investors.
Ford Stock Price consolidated in the narrow range between $11.00 to $13.00 for quite a long period of time. In the beginning of June, F Stock breakout of $13.00 hurdle with a strong momentum and expanded the range upward.
Later, prices rallied 17% in the short span of time and tried to reach the 52 week high. However, the momentum halted near $15.00 and minor profit booking triggers. If the sell off continues then the price might retest the break out level.
Well, In the previous month the prices rallied a lot and looked over stretched. So, the decline can be considered as retracement till $13.00 support is sustained.
Will Ford Stock bounce back from the support?
Ford Stock Price closed the previous session at $14.09 with an intraday decline of -5.94%. The market capitalization stands at $56.37 Billion.
Ford Motor expected to release the next quarterly earnings on July 27, 2023. Analysts estimate an EPS of $0.534 and Revenue estimate is $43.032 Billion. If the company succeeds to meet the estimates then prices might show a bounce from the $13.00 support.
However, if Ford Motor is disappointed in earnings then the possibility of bearish trend reversal will increase.
Another probability visible in the stock is it may enter consolidation in the range between $13.00 to $15.00. If the prices consolidate then might be signs of base formation.
The technical analysis suggests, F Stock Price is in uptrend and downfall might take halt near to $13.00.
What’s the July Month expiry range in F Stock?
F Stock Price begins the week with a bearish bias. The highest Call Open Interest stands in a strike of $15.00 which is 25,565 contracts indicating bears are active. Presently, $15.00 will act as an immediate hurdle for the bulls.
Whereas, the highest Put Open Interest is in the strike of $13.00 which holds the OI of 31,126 contracts. The Put sellers are also active but at lower levels. Therefore, The July month expiry in Ford Motor stock is expected in the range between $13.00 to $15.00.
Conclusion
Ford Stock Price (NYSE: F) fell 6% approx in a single day. The monthly expiry is on 21 July and Call sellers are getting active near $15.00 indicates mild bearishness. The technical analyst says till F Stock holds $13.00 prices are expected to bounce back.
Technical levels
Resistance levels: $15.38 and $16.65
Support levels: $13.00 and $12.00
Disclaimer
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