Could Ford Shares Move Lower in the New Year?

Ford (F) - Get Report shares could be headed south after peaking just above $13 on Dec. 9. Both General Motors (GM) - Get Report  and Ford have been showing signs of exhaustion since mid-December. GM is also in pullback mode but is holding above support levels. The shortened holiday week may not be the best time for buying shares of the automaker. Ford is feeling some mounting overhead pressure in the near term and patient investors might want to wait for the stock to get closer to $12 where a lower-risk entry will develop versus current conditions. If the stock slips below the late June Brexit panic low or the August and September bottoms, it might be a clear indication to investors to wait even longer.

This article was written by a staff member of TheStreet.