Is The Sell-Off In Ford's Stock Over?

Is The Sell-Off In Ford's Stock Over?

The sell-off in Ford Motor Company (NYSE: F) may be over, at least for the time being.

What To Know: Shares have held and rallied off of support at $13.40. Back in March, Ford's stock crashed into a wall of sellers when it reached this important level.

Many of the investors who sold at $13.40 thought they made a good decision after the price went lower. Then in May, the stock blew through this level and traded at higher levels.

Why It's Important: Now a number of these investors think they made a mistake, so they decide to buy their shares back. But they will only do so if they could get them for their sell price.

So, they placed their buy orders at $13.40. That is what caused support to form and put a floor underneath the price.

(Click on image to enlarge)

f_8.png

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
William K. 1 month ago Member's comment

Profit taking sales will tend to bid down prices, that seems to be inescapable. And all sales require buyers willing and able to pay. That is the brutal reality of trying to get rich quick in stock trading.