Business Chart of the Day: Ford Remains Stuck in Neutral

Business Chart of the Day: Ford Remains Stuck in Neutral
Ford Motor Company' logo is seen on the side of the building at the unveiling of their new electric F-150 Lightning outside of their headquarters in Dearborn, Mich., on May 19, 2021. Jeff Kowalsky/AFP via Getty Images
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Long-term shareholders of Ford Motor Company haven’t had much to celebrate over the past three weeks. The stock has been stuck in a narrow range, but some traders have still been able to profit.

When Ford reached levels around $20.50, these traders sold. At the top of the range there is resistance, or a large group of sellers. They put a ceiling on the price.