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Tickers in this Article: F
New York, November 26th ( - Shares of Ford Motor Company (NYSE:F) closed the session at $11.10 just above calculated resistance at $11.02. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.Ford Motor Company (NYSE:F) designs, manufactures, and services cars and trucks. The Dearborn, MI based automaker sell its vehicles under the Ford, Mercury and Lincoln brand names. Through its subsidiaries it offers lease and financing as well as auto parts with its Motorcraft brand.

The stock was trading in a well defined range with support at $10.38 and resistance at $11.02. Given that this range was broken, traders will be closely monitoring Ford's price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Ford is still near the broken resistance level, traders will be focusing on the $11.02 level to see if the stock holds the breakout without rolling over.

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