Trading Idea - Key levels for Ford

Published on Tuesday, 31 January 2012 09:20 Written by Christian Paolinetti

New York, January 31st (TradersHuddle.com) - Shares of Ford Motor Company (NYSE:F) are trading very close to calculated support at $11.79 with current price action closing at just $12.29 places the stock price near levels where traders will start paying attention.

Ford's current stock range is defined by current calculated support defined at $11.79 and by the resistance level at $13.05, which should be used by traders planning their trades. These support and resistance levels are based on an algorithm of peaks and troughs of the stock price action.

Traders wanting to establish a position should place close attention to Ford's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $13.05 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.

Ford Motor Company (NYSE:F) designs, manufactures, and services cars and trucks. The Dearborn, MI based automaker sell its vehicles under the Ford, Mercury and Lincoln brand names. Thorugh its subsidiaries it offers lease and financing as well as auto parts with its Motorcraft brand.