By Rick King -
Ford Motor Company (NYSE:F) continued is monthly advance this past week, closing at $16.28 and gaining 19.35 % since this time last month. This week’s technicals showed Ford continuing its 2-year upward trend after a choppy decline in early July with the rest of the markets. This past week’s close saw a slight decline of $0.02 from the previous Friday’s close, although it saw a steeper decline within the week with a starting price on Monday at $16.80 with increased volume at 83.6 million shares traded, above it’s average. The higher volume Monday was concurrent with an announcement by the company that it plans to introduce a fully-electric Focus compact model to 19 U.S. cities at the end of 2011. Ford shares were most likely impacted this week by the IPO release of GM (NYSE:GM), but recovered nicely as shares leveled out on Friday.
Disclosure: No Position – F
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