Dropping for four consecutive days, Ford closes at $11.71 (down 1.84%)

A quick look at yesterday: during yesterday's session, Ford Motors toiled and struggled for upward momentum before closing at $11.71. By the close, the the US auto giant suffered a 22 cents or 1.84% loss.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Ford's lower Bollinger Band® is at $11.59, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests Ford is likely to remain muted for the immediate future, with no clear-cut direction.

Ford Motors was not the only decliner in the consumer discretionary sector; Toyota went down to $133.58, losing 2.26% after it closed at $136.67 yesterday. Alibaba lost 2.79% yesterday and closed at $81.51.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Amazon was up 1.39%.

Moreover, United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released today at 12:30 UTC.

Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) scheduled to come out today at 12:30 UTC. United States Building Permits (Feb) is scheduled for today at 12:30 UTC.

The US automaker has shed 11.43% over the past three months.