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.