Solid session for Ford generates 2.07% gain today

Today at a glance: Ford ended yesterday at $12.07. today it went up to $12.54 only to drop back, yet still managed to close at $12.32.

United States's Crude Oil Inventories new data released of 1.17 million below its previous figure.

Ford's uptick comes amid good United States macroeconomic data released during the day — highly important Crude Oil Inventories data from United States beat analyst expectations of 457,000 with a reading of 1.17 million.

Nevertheless, data from United States concerning Consumer Confidence was released yesterday at 15:00 UTC. Newly published figures emphasized continued decline from last month's figure of 106 to 102.9 this month.

At the same time, United States ISM Manufacturing PMI (Feb) came out at 47.7, while a consensus of analysts was expecting 48.

Ford Motor Co made an initial breakout above its 10 day Simple Moving Average at $12.42, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $12.48 currently serving as resistance. If broken, the next Fib hurdle is expected to be $13.43.

Overall, looking at the technical analysis landscape, it seems Ford might continue pointing upwards in the short term.

While Ford was bullish today, the following consumer discretionary stocks underperformed: Lowe's went down 5.56%, closed at $205.75. Amazon lost 2.19% today and closed at $92.17. Home Depot closed at $290.79 (down 1.94%).

Also worthy of note, tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 195,000 from the preceding figure of 192,000.

The US automaker has shed 22.48% over the past six months.