F - Ford Stock: The Battery Is Dead And It's Out Of Gas (Technical Analysis)
2024-04-26 14:00:00 ET
Summary
- Ford Motor Company is facing extensive recalls of about one million vehicles, which could have a negative impact on the stock's performance.
- Lyn Alden suggests that Ford is best suited for short-term trading rather than long-term investment due to its lack of structural growth and volatile dividend.
- We discuss a sell setup for Ford, with a target potential in the $6 - $7 range, and emphasize the importance of having a system in place for risk management.
By Levi at Elliott Wave Trader; Produced with Avi Gilburt.
Have you seen the news? Of course, you have. If you are a follower of Ford Motor Company ( F ) then you will have read about the extensive recalls about to inundate the dealerships. Summing it up, it's about one million vehicles that will be coming into the shop for a fix. Everything from cracked fuel injectors to electrical system issues will be addressed. Yes, recalls happen, but when the company itself is in a weaker position as it is currently, then it can adversely impact the performance of the stock. Let's look at the reasons with Lyn Alden first....
Ford Stock: The Battery Is Dead And It's Out Of Gas (Technical Analysis)