Two Car Stocks Heading In Different Directions
Tim Knight | Aug 12, 2022 10:41AM ET
I’d like to mention two car companies, one positive and one negative. The first, Rivian Automotive Inc (NASDAQ:RIVN), is holding up nicely since it reported earnings (well, actually, a multi-billion dollar loss).
On the negative, I’d say Ford Motor Company (NYSE:F) has probably peaked. That horizontal line might constitute a crucial element in a head-and-shoulders top, which is about 80% complete. The nice thing about F is that it has an extremely active, high-volume options market.
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