Ford Motor Co. shares retreated over 7 percent by Wednesday afternoon as the stock took aim at a lower gap between $21.88 and $22.42 left behind on Jan. 4 when shares shot up almost 12 percent higher from the previous day’s closing price. If the stock falls to fill the gap and prints a reversal signal near a support level at $21.69, it could provide a solid entry point for investors waiting to take a long position over 2022 as the legacy automaker continues to ramp up its electric vehicle production. The EV sector is largely dominated by Tesla Inc. currently but on Wednesday BofA Securities analyst, John Murphy, said in a note he expects Ford and its closest competitor General Motors Co. to be the biggest gainers in terms of market share. Ford is expected to announce its quarterly earnings results after the closing bell on Feb. 3 and on Tuesday the …
Ford’s Stock Pulls Back, but Here’s Why Bulls May Soon Regain Control
January 19, 2022
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