Full steam ahead for Ford (+0.25%) as a 4 day uptrend continues

Ford Motors has posted further gains as part of a 4 day trend that has already seen the stock gain 30 cents. Ford lived up to expectations today by maintaining its set course — Ford Motors recovered from the previous trading session's losses and went up to $11.89 today after it traded lower at $11.73.

New United States Crude Oil Inventories improved upon the previous -1.28 million figure while also exceeding analyst expectations with a reading of 2.95 million.

Ford Motors's uptick comes amid good United States macroeconomic data released during the day — United States Crude Oil Inventories improved upon its previous reading of -1.28 million with a new data release of 2.95 million.

At the same time, United States Consumer Price Index released today at 12:30 UTC with a figure of 4.9%, while the previous figure was 5%. United States Core Consumer Prices came out at 0.4%, while a consensus of analysts was expecting 0.4%.

Ford Motor Co could be slowing down soon as it approaches resistance at $12.16. Of course, crossing it might suggest further gains are ahead. Despite posting gains on today, Ford slid below its 10 day Simple Moving Average at $11.81 during the last session — an early indicator that a negative trend could be emerging.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Ford is set for a reversal in the coming days.

A look at other consumer discretionary stocks also showed bullish price action as Amazon traded at $110.19 after closing today's trading day at $106.62 (up 3.35%). Toyota was up 1.95%.

Today's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Producer Price Index is projected to outperform its last figure with 0.3%, having previously been at -0.5%. The figure will be published tomorrow at 12:30 UTC.

Also worthy of note, United States Initial Jobless Claims projected to come out at 245,000 — worse than previous data of 242,000; data will be released tomorrow at 12:30 UTC.

Having soared to a high of $16.43 approximately 8 months ago, the US auto giant is now trading 27.81% lower.