Ford (F) shares closed larger on Tuesday, in the future after the automaker reported quarterly results that topped Wall Avenue expectations and suspended its full-year forecast amid auto tariff worries.

Though the corporate pulled its annual steerage, it stated it expects tariffs to scale back adjusted earnings by $1.5 billion this yr, placing a quantity on the influence of the Trump administration’s hefty auto import duties. The information comes after rival Normal Motors (GM) just lately slashed its outlook, warning that auto tariffs might have a $4 billion to $5 billion influence on its full-year revenue.

Ford shares gained 2.7% on Tuesday to shut at $10.44. The inventory is down greater than 16% over the previous 12 months as challenges within the firm’s EV division and ongoing tariff considerations weigh on investor sentiment, although it is gained greater than 20% from its early-April low.

Under, we take a more in-depth take a look at Ford’s chart and apply technical analysis to find essential value ranges price watching out for.

200-Day Shifting Common Supplies Resistance

Ford shares oscillated inside a falling wedge sample between July final yr and April, probably indicating a long-term accumulation section.

Extra just lately, the inventory broke out above the sample’s higher trendline however has encountered resistance close to the carefully watched 200-day moving average (MA). 

It’s additionally price noting that trading volume has declined in the course of the present transfer larger, suggesting that bigger market members, comparable to institutional investors and hedge funds, remained on the sidelines forward of the automaker’s quarterly report.

Let’s determine essential support and resistance ranges on Ford’s chart that buyers will probably be watching.

Essential Help Ranges to Watch

The primary decrease degree to look at sits round $9.50. The shares might discover assist on this space close to a trendline that connects a spread of corresponding price action on the chart stretching from August to April.

Promoting under this degree might see the shares revisit decrease assist at $8.50. Traders could search shopping for alternatives on this area close to final month’s distinguished swing low, which additionally marked a bear trap within the inventory, a buying and selling occasion that lures buyers to promote upon a breach of main assist—the falling wedge sample’s decrease trendline on this case—earlier than the value makes a swift reversal.

Essential Resistance Ranges to Monitor

Coming into Tuesday’s buying and selling session, $10.25 was a key degree. This space on the chart, slightly below the downward sloping 200-day MA, was prone to promoting strain close to a trendline that linked an array of peaks and troughs on the chart extending again to final September.

A sustained breakout above this degree might drive a transfer towards $11.25. Traders who’ve purchased Ford shares at decrease costs could search for profit-taking alternatives on this space close to a number of peaks that developed on the chart between August and November final yr.

CORRECTION: The chart on this story has been up to date to appropriately determine a buying and selling sample as a falling wedge sample.

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As of the date this text was written, the creator doesn’t personal any of the above securities.