Ford Stock: Find Out The Level To Watch

Benzinga's Luke Jacobi talked about Ford Motor Company F Monday on Benzinga's YouTube show "Power Hour."

What Happened: Ford has traded higher by 8.18% over a 5-day period after the company revealed its F-150 Lightning and announced a joint venture with SK Innovation.

The Ford F-150 Lightning, an all-electric version of its best-selling pickup truck, has 230 miles of range and is priced just under $40,000. It is expected to be on the road in spring 2022. 

See also: How to Buy Ford Stock

On May 20, Ford and SK Innovation announced the two companies signed a memorandum of understanding for a joint venture, BlueOvalSK, to produce approximately 60 gigawatt-hours annually in traction battery cells and array modules. 

Trading Ford's Stock: Ford was Jacobi's 2021 pick for stock of the year, he said, adding that it is up about 55% year-to-date.

Jacobi currently owns shares of Ford as well as call options. For those looking to get into Ford, watch for a break above $13.60, the "Power Hour" host said.  

Related Link: Ford's Stock Makes Big Move But Crashes Into Resistance

$13.60 is the highest that Ford has traded over a 5-year period, Jacobi noted. 

At last check Monday, the stock was down 1.13% at $13.19.

(Photo: Ford)