Major restructuring in the US automaker
Ford has announced that they will cut 7000 salaried jobs in a major restructuring. Of the 7000 cuts around the world, 2300 will be in the US. The cuts will be made by the end of August.
Looking at Ford’s stock price, the price moved above the 50, 100 and 200 day MAs back in March/April (and also above a downward trend line. The pair tested an old floor at $10.44 over the last few weeks. A move above that area would be more bullish….