Ford Motor Company (F Ford Motor Co F 11.50 +1.23%) shares have moved higher by more than 5% over the past five trading sessions thanks to strong automotive sales and positive developments for self-driving vehicles. Hurricane Harvey had an adverse impact on deliveries during the last week of August, but the industry’s fundamentals remain supportive of strong vehicle sales growth. Ford’s F-Series has been especially strong over the past month, with strong pricing.
The House of Representatives also passed a bill that would create a framework for the autonomous car industry. The so-called Self-Drive Act clears the way for automakers and tech companies to test up to 100,000 autonomous vehicles each year without worrying about state regulations on design. The Senate will take up the bill in the fall of this year, but a bill discussing self-driving trucks will come even sooner in mid-September. (See also: Self-Driving Vehicles Will Create ‘Passenger Economy’ Worth $7 Trillion: Study.)
Ford shares soared on strong F-Series demand and autonomous vehicle developments. Will the stock break through key resistance? …read more
Read more here: Ford Stock Could Break Out From 200-Day Moving Average