July 29, 2010
Since early July shares of Ford Motor Co (NYSE: F) have risen 29% after a 41% decline from late April through June. How much further can they rise?
Ford is the second largest US automaker and the fourth largest in the world based on number of vehicles sold annually. Ford’s recently announced second quarter results show that the company continues to improve its financial position and gain share in US markets.
As the automaker that did not take government bailout money, Ford can hold its head high, but is the stock worth buying?
On Monday, July 26, shares rallied to close at $12.94. This is above the 61.8% retracement of the entire two-month decline and points to a run to the prior highs above $14 a share.
Should the economy start to show signs of improvement Ford will be one the first public companies to benefit. But until that happens, look for $14.00 a share as the target for this advance.
http://www.Fibtimer.com does not currently have a position in Ford Motor Co.
Disclosure: www.Fibtimer.com does not currently have a position in Ford Motor Co.