Shares of Ford Motor Company F may have broken an important support level. That means there’s a good chance their recent downtrend continues.
Support is a large concentration of investors who are all looking to buy shares at, or close to, the same price. In this case, it’s $19 a share.
When a stock trades below a support level, traders say the support has been broken. This means the buyers who created the support have left the market. They have either finished or canceled their orders.
With this large amount of demand for the stock out of the way, sellers will be forced to push prices lower. This could result in a new downtrend.
To learn more about trading check out the new Benzinga Trading School.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
