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The FORD (F: NYSE) stock price is trading at $13.04 currently with a market capitalization of $52.189 Billion (press time). - 2
FORD reported impressive quarterly results indicating strong finances.
Ford Stock (NYSE: F) is a US-based global automaker that manufactures and markets vehicles, parts, and services under different brands, including Ford, Lincoln, Mercury, and Volvo. It is listed on the New York Stock Exchange (NYSE) with the ticker symbol F.
FORD Stock Latest Quarter Finances and 2023 Outlook
Ford reported strong Q2 results, driven by its three customer-focused businesses: Ford Blue (gas, hybrid vehicles), Ford Model E (EVs), and Ford Pro (commercial products, services). The company’s revenue rose 20% year-over-year to $41.5 Billion, and its net income of $1.8 Billion was a significant improvement from the net loss of $3.1 Billion a year ago.
The company’s adjusted EBIT increased 45% to $3.4 Billion, with Ford Pro and Ford Blue delivering EBIT margins above 10%. Ford Pro’s EBIT tripled to $1.4 Billion, and Ford Blue’s EBIT doubled to $2.6 Billion. However, the company did not change its full-year 2023 guidance for adjusted EBIT of $9 Billion to $11 Billion and adjusted free cash flow of about $6 Billion.
The company also reiterated its 2023 segment-level EBIT expectations of around $7 Billion for Ford Blue, up slightly from last year; a loss of around $3 Billion for Ford Model E; and EBIT of nearly $6 Billion for Ford Pro, which would be almost double its 2022 earnings.
F Stock Price Technical Analysis
Ford stock lacks momentum and trading in a range between the 200-day and 50-day moving averages. The F stock price needs to break above the 50-day moving average to start an uptrend. A bullish cross is also seen on the daily chart.
However, the indicators are still bearish on the stock. The RSI is oversold at 33.17 and the 14 SMA is below 50, indicating that the price is in a downtrend. The MACD is also negative at -0.2421 and below the signal line (at -0.0594), suggesting more downside risk for now.
Conclusion
Ford stock is losing momentum and trading below the 50-moving average. The stock may bounce back or break down further from this level. Key indicators like RSI and MACD are showing weakness in the stock. Ford stock is at a crucial point and needs a clear signal for the next move.
Technical Levels:
- Support – The current support level is $11.30
- Resistance –The current resistance level is $15.30.
Disclaimer
The prediction given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in stock is a risky task. Please consider your circumstances and risk profile before making any investment decisions.
Source: https://www.thecoinrepublic.com/2023/08/03/ford-stock-price-prediction-aug-2023-will-f-stock-rebound/