Ford shares rises 3% due to UAW negotiations progress

5:45 PM September 22, 2023

Sentiment in the U.S. stock market is mostly positive today, with Ford Motor (F.US) shares standing out among the automotive sector on the rise. The company reported progress in negotiations with striking UAW unionized workers. At the same time, however, the UAW said it would extend its strike against General Motors (GM.N) (shares are down 0,5%) and the Stellantis (STLAM.MI) holding company, which owns Chrysler's factories in the Detroit district. 

Ford Motor (F.US) shares rebounded from the 61.8 Fibonacci retracement of the upward wave from the spring of 2020, but recently reacted with a decline to an attempt to climb above $12.7 where the SMA200 (red line) runs. At the moment, the company's shares are in a key zone - a move out of it could potentially bring broader reactions in either direction.

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Source: xStation5

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