Ford Lower After Q1 Misss

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

'' Ford F shares are trading lower by $0.11 at $15.79 in Tuesday's session. Earlier today, the compamy reported disappointing Q1 results. The company came up shy for EPS ($0.23 vs. Est. $0.26) and for sales ($33.9B vs. Est. $34B). The issue, which has been in a holding pattern for the month of April between $15.70 and $16.16, that included a series of six consecutive lows in the last six days between $15.70 and $15.77. On the upside, Ford put in a series of seven consecutive highs between $16.05 and $16.09 from April 8 to April 16. Interestingly, those same levels have come into play in today's session as the issue has bottomed at $15.77 and peaked at $16.08. Ford is being buoyed by positive comments made by the company's CFO, Bob Shank, speaking on Benzinga's PreMarket Prep Show classifying 2015 as a ‘Breakthrough' year.