Ford: Shares show Tesla & Co taillights

Tesla is now at the bottom of the US market and other electric car manufacturers are also under pressure. Not so Ford Stock is one of the best stocks in the current trade and has cleared the technical chart barrier.

Tesla figures are expected tomorrow after the stock market closes. It’s the start of number templates from other Magnificent Seven companies such as Meta on Wednesday and Microsoft and Alphabet on Thursday. Earlier in the week, Tesla shares lost more than three percent in intraday trading. In light of the weakening demand, the electric car maker has once again reduced the prices of its electric cars in China and the United States.

Chinese electric car maker Li Auto also tried to cope with weak demand by cutting prices on various models. The park also loses a lot.

At least today, mainstream automakers like Ford and General Motors are turning up the heat on the stock market. They show strength with an increase of up to six percent. Ford leads with an increase of 5.7 percent.

Ford’s consensus price target is $13.74, which is only about seven percent below current price levels. Out of 29 experts, eleven recommend buying and four recommend selling. The remaining 14 analysts advocate holding. The bottom line is that experts no longer see much potential for price.

On today’s rise, the stock has broken off the 200-day line at $12.09. This acts as support and is just above the 100-day line at $12.08. If the stock closes today above the price of $12.58, then the GD50 will break and a buy signal will be issued.