Ford Motor (F)

by | Oct 14, 2022 | Daily Trade Alerts

Ford Motor (F) just caught double bottom support dating back to July.

It’s also oversold on RSI, MACD, and Williams’ %R, and may be overdue for a bounce. In fact, from a current price of $11.77, we’d like to see the Ford stock run back to $16, near-term.

Helping, its electric vehicle sales are accelerating. For one, Ford just said it tripled year over year EV sales thanks to its Mustang Mach-E. Two, it just gained 3.1% EV market share. And three, according to Electrek.co, “The US automaker continues to see rising demand for its electric vehicles. Despite ongoing supply issues, Ford’s electric vehicle sales tripled (+197.3%) from last year, gaining 3.1% market share as the automaker looks to hit its goal of a 600,000-run rate by the end of 2023.”

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