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There’s no reason why Ford shouldn’t break above $20, trader says

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Ford’s fate looks rosy to Inside Edge Capital Management founder Todd Gordon.

With shares of the automaker meeting resistance in the $20 range, “I see no reason” why they can’t break decisively above that long-standing ceiling, Gordon told CNBC’s “Trading Nation” on Thursday.

Ford’s stock was just above $20 a share in premarket trading Friday.

“As we’ve sort of been hanging out here, Ford has been showing a lot of relative strength compared to the broader market,” Gordon said.

The stock “actually looks more like Tesla” than industry peers such as General Motors, he said.

“If the market drops and that stock shows relative strength, you’ve got to think when…



Source cnbc.com

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