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  • Some Auto Stocks Have Stalled Engines 0 comments
    Jun 14, 2011 11:15 AM | about stocks: F, HMC, TTM

     Today, the major stock indexes are staging the best rally they have had in several weeks. Everything looks fine in stock land, however, some of these leading auto stocks are struggling to catch a bid higher this morning. 

    Tata Motors Ltd.(NYSE:TTM) is the leading automobile and truck manufacturer in India. This stock is trading lower this morning by 0.05 cents to $22.05 a share. TTM stock has been declining since April 6, 2011 when it traded as high as $29.00 a share. The stock remains in a sharp down trend at this time by trading below it's daily chart 50, and 200 moving averages. Short term traders can watch for intra-day support around the $21.75 level.

    Honda Motor Ltd.(NYSE:HMC) is another leading auto stock that is trading lower by 0.34 cents to $35.79 a share. This stock has certainly been adversely effected by the Japanese earthquakes. The stock is trading below it's daily chart 50, and 200 moving averages which puts the stock in a weak technical position on the daily chart. Short term traders can look for intra-day support around the $35.75 and $35.40 levels.

    Ford Motor Co.(NYSE:F) is a leading automobile manufacturer that is actually trading higher this morning. The stock is trading higher by 0.37 cents to $13.52 a share. Ford is also trading below it's daily chart 50, and 200 moving averages. The stock is oversold and extended to the downside in the short term, therefore, a short term bounce is possible. Short term traders can look for intra-day resistance around $13.55 and $13.75 levels.

    Nicholas Santiago
    Stocks: F, HMC, TTM
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