Ford is introducing the new 2011 Ford Explorer and the marketing campaign started on Monday. The F stock reached $13 per share yesterday, trying to touch the previous high of $14.50. The new Ford Explorer, built on a car platform, hitting the market in winter and priced at $28,190, could be the helping hand for the F stock price to continue trending upwards, but it will require a lot more to climb up to $35, the all-time high of the stock in the last 35 years!
The Ford Explorer’s marketing campaign certainly aided the F stock price to a 5 day high yesterday and also to bounce off a support level at $12.80. The stock is trending strongly since July when it hit 10 dollars for the last time. A serious challenge to the stock prices would be the $14.50 mark where the long term uptrend met strong resistance and entered a rather short term downtrend from May to July, losing about 40% of its value.
However the F stock does look promising for the time being and with the marketing campaign just having started, it would be difficult for the stock prices to break below $11.30, the previous low during July, accompanied by a gap at those levels.
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Jim Makos
Jim Makos has been a professional gambler since 2003 when he first played Blackjack at the local casino. During the following years he developed online betting systems and became an expert in sports trading at the betting exchanges, mainly by scalping the betting odds at horse racing markets. He has also been a casual online poker player and shares his experience in his personal gambling blog. Forex and stock trading fascinates him and he is testing trading strategies based on technical analysis applied to financial charts. Follow him on Twitter - Find him on Facebook.
