Ford Motor Crosses $14 For First Time In 2016

Ford Motor Company F shares are trading higher by $0.49 (3.7 percent) at $14.15 in Thursday's session. The catalyst for the rally is a Q1 EPS beat of $.20 along with $2 billion more in revenues.

This makes two beats for The Big 2 in the Motor City, as General Motors Company GM topped Wall Street estimates with a EPS beat of $0.25 with $1.6 billion more in revenues.

Related Link: Ford Gains Following Top-And-Bottom Line Q1 Beat

Despite the big beat for Ford, it only managed a slightly higher open. In textbook technical fashion, it retreated and found support right at the upper end of Wednesday's range ($13.71) and began to move higher.

Once it began to rally, it had no problem clearing the institutional sellers at the $14 level and so far has reached $14.20.

This puts the issue back in the $14 handle for the first time since December, when it peaked at $14.62. It is attempting to post its first close over $14 since December 31, when it ended the session at $14.09.