April 23, 2010
Ford Motor (F)
Written By Michael Cintolo
Ford Motor‘s (F, NYSE) stock looks to have successfully digested the huge sale of convertible warrants from the UAW, as it tightened up on low volume just above its 50-day line, and has recently pushed back above 14. The most recent good news comes from Europe, where Ford was the best-selling brand in March; sales rose a healthy 16% from a year ago, boosting its market share to 10.4%. We still see some tough resistance just above here, and any break below 12.5 would likely tell you the sellers are taking control. However, the trend is still up, business is great and the odds favor higher prices down the road. Buy.
Michael Cintolo
Cabot Market Letter