Ford Stock Smashes Resistance, Looks To Continue Higher

The cryptocurrency meltdown has been a blessing to shareholders of Ford Motor Company F.

The stock stalled out at resistance close to $13.50. This is where it also stalled in March. It looked like shares were going to move lower.

But Wednesday, the company released some news on its electric vehicle production and shares ripped higher.

See Also: Ford Raises 5-Year EV Investment Target To $30B After High-Flying F-150 Lightning Launch

Many investors who have taken their money out of cryptocurrencies over the past week have been looking for new opportunities. It looks like some found it with Ford.

The stock is up 3% to $14.43 at publication time.