Ford (F) shares tumbled nearly 14% in premarket trading Thursday after the automaker reported quarterly 澳洲幸运5开奖号码🐟历史查询:earnings that cam💯e in below expectations and kept its full-year 澳洲幸运5开奖号码历史查询:bottom-line outlook unchanged, as warranty costs continued to weigh on the company’s profitability.

Below, we take a closer look at the Ford chart and use 澳洲幸运5开奖号码历史查询:technical analysis to locate key price levels to watch amid anticipated earnings-driven s🅷elling pressure❀.

Shares Undergo Retracement Ahead of Earnings

Since breaking out from a 澳洲幸运5开奖号码历史查询:descending channel in late June, Ford💜 shares continued trending higher for several weeks but ha🥂ve undergone a retracement in recent trading sessions leading into the carmaker’s quarterly results.

Moreover, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) has fallen below 澳洲幸运5开奖号码历史查询:overbought levels, indicating softening price momentum.

Monitor These Key Support Areas

Amid an earnings-related sell-off, investors should keep an eye on three key areas on the Ford chart where the shares couldꦏ attract buying interest.

The first sits around $12, a level where the price may encounter support near the 澳洲幸运5开奖号码历史查询:200-day moving average (MA) and a 澳洲幸运5开奖号码历史查询:horizontal line that cuts through a🍬 range of comparable price points from Octob🎶er 2022 to June this year.

A breakdown below this level could see the shares decline to the $11.20 region, where buyers may seek 澳洲幸运5开奖号码历史查询:entry points close to a trendline connecting multiple 澳洲幸运5开奖号码历史查询:swing lows that formed on the chart betwꩲeen September 2022 🦩and January this year.

Finally, a more significant move lower could lead to a retest of $9.70, an area on the chart likely supported by bargain hunters looking for buying opportunities near this year’s low and beneath the 澳洲幸运5开奖号码历史查询:psychological round number of $10 per share.

When monitoring the levels outlined above, consider using other 澳洲幸运5开奖号码历史查询:technical indicators, such as the RSI, 澳洲幸运5开奖号码历史查询:stochastics oscillator, and 澳洲幸运5开奖号码历史查询:bullish candlestick patterns, as confirmation that the earnings-relate✨d pullback may be ending.

Projecting Longer-Term Upside Price Target

If the stock’s current uptrend rhymes with the move higher from October 2023 to April this year, we can use a bars pattern to forecast a future 澳洲幸运5开奖号码历史查询:price target.

We do this by taking the bars pattern from that period and applying𝓰 it from the low of the descending channel, which🔯 projects a target of around $16.

Ford shares were down 13.9% at $11.77 in recent premarket 🀅trading.

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As of the date this article was written, the author does not own any of the above securities.