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Nearest Resistance: $10.25
Nearest Support: $9.75
Catalyst: Dividend Announcement, China Success
>>Buffett's "Secret" Reveals 5 Stocks to BuyFord Motor (F - Get Report) is up more than 2% this afternoon following news that the firm grew its sales in China by 35% this September vs. last, breakneck growth for a market that's been slowly becoming more and more strategically important for the firm. Ford's 5-cent fourth quarter dividend was another factor that's reinvigorating investors and spiking volume in shares of the Detroit automaker. At current price levels, that payout works out to a nearly 2% yield.
Ford's price action is significant right now -- it's another name that's floundered for much of 2012, not participating in the broad rally that most stocks have seen since June. But a breakout above $10.75 would complete a bottom for Ford, solidifying the uptrend that's been in force since early August. More immediately, $10.25 is a breakout level to watch for a near-term trade. For investors looking to buy Ford, I'd recommend building a position on a move above $10.25, then going full-size if shares push through $10.75.