Ford Stock Charts Signal 20% Upside – Buy Now!

By Sam Collins,

Shutterstock photo

In my October 22 Trade of the Day stock recommendation, Ford (NYSE: F ) was trading at $13.86. I wrote then that  Ford " broke from a right triangle following two buy signals" and set a $16 target by the end of 2010.  The target for Ford stock was exceeded (a peak of $16.83 in December) and then in January Ford stock hit $18.97.

But a combination of profit taking and a market pullback drove Ford's shares back to its 200-day moving average at around $14.  And recently shares have been bouncing back to around $15.00 as of this writing.

All of our internal indicators favor new purchases of the stock, and on March 15th our internal proprietary indicator (CBR) flashed a buy signal.  S&P has rated Ford a "Four-Star Buy" and estimates that Ford should earn $2.09 for 2011 vs. $1.66 last year.

ford stock chart

S&P has a 12-month target of $18 for Ford stock, which matches my six-month technical target.

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Editor's Note: A previous version of this story incorrectly cited the price of Ford stock on October 22, 2010. The mistake has been corrected.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , Stocks
Referenced Stocks: CBR , F

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