Ford Motor Company, an American multinational automobile manufacturer based in Dearborn, Michigan, was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobiles and commercial vehicles under the Ford brand, as well as luxury cars under its Lincoln luxury brand. Over the years, Ford has established itself as a major player in the automotive industry, known for its innovative products and commitment to quality.
In terms of the stock market, Ford (F) has seen some fluctuations over the past year. In August 2023, it was noted that the stock needed more downside as price action remained below a certain high, with a wave II correction expected to complete in a specific range. However, in January 2022, Ford made a high at 25.87, signaling the start of a wave II correction. The stock later went through a zig-zag correction, followed by a flat correction, before entering a sideways phase. This pattern was analyzed to predict future market movements.
By April 2024, the market continued to move lower, with expectations of a double correction to complete wave ((Y)). The analysis pointed towards three swings lower, a bounce in three swings higher, and another three swings lower to complete wave Y. A new rally then started, signaling a possible structure of three swings as wave (X). This detailed analysis, using Elliott Wave Theory, provided insights into the potential market movements for Ford (F) in the upcoming period.
In August 2024, the market saw the completion of wave C, along with the connector (X) in a higher degree. The analysis suggested that Ford was heading downwards in wave (Y) of ((Y)) of II to complete the entire correction from January 2022 high. This wave (Y) was identified as a double correction W, X, Y, with expectations of three swings higher in wave ((b)) before potentially continuing lower. Buying opportunities were to be considered if the market broke above a certain high, indicating the completion of the wave II correction.
Overall, Ford (F) has been navigating through various market phases and corrections, with detailed analysis and predictions guiding investors on potential buying and selling opportunities. As a leading automobile manufacturer, Ford’s stock performance is closely monitored by investors and analysts alike, with factors such as market trends, company developments, and external influences impacting its movements. By staying informed and utilizing tools like Elliott Wave Theory, investors can make informed decisions when it comes to trading Ford (F) stock.
