Published on Thursday, 18 October 2012 06:36 Written by TradersHuddle Wire

New York, October 18th (TradersHuddle.com) - Ford Motor Company (NYSE:F) closed the trading session at $10.41, near its 200 day moving average set at $10.89. Ford's stock action is below this level, which makes the stock difficult to be bought, as it will face resistance as it approaches its 200 day moving average.

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. Through its subsidiaries it offers lease and financing as well as auto parts with its Motorcraft brand.

Latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $9.71 and resistance at $10.28. Traders should closely monitor these levels, as they provide great reference points for the latest price action in Ford.

If traders want to establish a position on Ford, given that resistance could materialize as the stock approaches its 200 day moving average, a trade might materialize as the stock manages to break this important level. After the breakout, the 200 day moving average could be used as support going forward. However, until the break materializes, traders need to exercise patience.