Ford Stock Price (NYSE: F) was down by 8% approx in the current month and formed a bearish pattern. F stock price is slipping down by forming lower lows candles indicating the dominance of sellers.
Ford Motor Company stock price dropped below the 50-day and 200-day EMA. It shows that the trend has reversed in a downward direction. So, any short-term pullback will face difficulty in holding the higher levels.
At the beginning of June, Ford stock broke out of the $13.00 hurdle with a strong bullish candle. It triggered positive sentiments and the price rallied 15% (approx.) in a short span of time.
Meanwhile, the EMA displayed a golden crossover which further boosted the confidence of investors. The rally in the Ford shares halted near $15.45 and prices showed signs of exhaustion.
In the mid of July, F stock price fell -5.94% in a single day and prices reverted in a downward direction. Slow and steady stock prices declined and eroded the complete gains generated in June month.
Ford Motors’ stock price closed the previous session at $12.16 with an intraday decline of -4.48%. The market capitalization stands at $48.67 Billion.
When the downfall in Ford Stock might take a halt?
Ford share price (NYSE: F) is in correction mode and no signs of recovery are visible. The stock price is coming closer to the 52-week low which might act as a strong demand zone for bulls.
Ford Motor released the previous quarter’s earnings on July 27, 2023. It reported an EPS of 0.72 and revenue of $44.954 Billion.
The company beats the EPS estimates by 32.65% and revenue estimates by 4.14%. Despite that stock prices reacted negatively and continued the downward momentum.
Ford Motor Stock Price dropped below 200 weeks EMA
Ford Motor share price fell for 4 consecutive weeks and dropped below the 200 weeks EMA. The recent downfall indicates that some genuine investors might have taken an exit from the higher levels.
The MACD curve slopes down and displays a negative crossover indicating a bearish momentum might continue. The histogram bar is in the declining phase which confirms the strength of bears.
The RSI at 24 denotes prices are in oversold territory but a temporary relief rally is possible.
Conclusion
Ford Stock price (NYSE: F) drops below the crucial support of $13.00 and the trend has reversed in the downward direction.
The technical analysis suggests Ford Motor stock price is inside the bear’s grip and more downside is possible. However, the downfall might take a halt near the 52-week low.
Technical levels
- Resistance levels: $14.59 and $15.45
- Support levels: $12.00 and $11.00
