Ford Enjoys Bullish Momentum, Faces Buying Pressure Ahead Of Q1 Earnings

Ford Motor Co F will be reporting its first-quarter earnings on April 24 after market hours.

Wall Street expects 50 cents in EPS and $40.7 billion in revenues.

Ford shares haven’t gained much over the past year — up just 7.46%. So far this year, the stock is up just 7.2%.

Here's how the stock is technical setup ahead of Q1 earnings, and how it currently maps against Wall Street estimates.

Read More: Ford Stock Is Trading Higher Tuesday: What’s Going On?

Ford Stock Technical Setup Ahead Of Q1 Earnings

The technical analysis of Ford stock points towards a bullish trend. The share price is currently trading above its 8, 20, and 50-day exponential moving averages, indicating strong bullish momentum and significant buying pressure.

Chart: Benzinga Pro

Additionally, the stock’s price of 12.88 is above its eight-day simple moving average of $12.39, its 20-day SMA of $12.88, and its 50-day SMA of 12.59, all signaling bullish sentiments.

Furthermore, the stock’s price exceeds its 200-day simple moving average of $12.09, reinforcing the bullish sentiment.

Chart: Benzinga Pro

However, it’s worth noting that the Moving Average Convergence Divergence (MACD) indicator is -0.03, suggesting a bearish signal. Moreover, the Relative Strength Index (RSI) is at 57.26, treading towards the above 70 zone where Ford Motor stock would be overbought.

Despite these cautionary signals, the Bollinger Bands suggest bullish momentum with Ford price crossing over from the lower band (bearish) to the upper band (bullish) recently.

Overall, while there are some conflicting signals, the majority of technical indicators support a bullish outlook for Ford stock.

Ford Analysts Consensus Ratings

Ratings & Consensus Estimates: The consensus analyst rating on Ford stock stands at a Buy currently with a price target of $13.75.

However, per the last three analyst ratings on the stock that were released Feb. 13 onwards from Barclays, Piper Sandler, and Morgan Stanley, the average price target stands at $15. This implies a 14.24% upside for Ford stock.

F Price Action: Ford stock closed trading of April 22 at $12.88, up 6.1%.

The company’s stock popped higher during pre-market hours Tuesday, driven by optimism from General Motors Co GM earnings. Shares of the Ford rival were trading higher pre-market, up 4.5% by 8 AM ET, after it delivered a beat Q1 earnings estimates.

The company delivered a 22.43% surprise on EPS and a 2.71% surprise on revenue. General Motors also raised its 2024 outlook. It raised its adjusted earnings guidance from a range of $8.50 to $9.50 per share to a new range of $9 to $10 per share.

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