Ford Motor Company (NYSE: F) is set to print its second-quarter financial results after the market close Wednesday. The stock was was trading near flat heading into the event.
When the legacy-turning-electric vehicle manufacturer printed its first quarter results on April 24, the stock was volatile the following day but closed that session slightly higher.
For the first quarter, the company printed EPS of 49 cents, which beat the consensus estimate of 43 cents. Ford missed on the top line, reporting revenues of $42.777 billion compared to the $42.932-billion estimate.
For the second quarter, analysts expect Ford to report an EPS of 68 cents on revenues of $47.794 billion, according to TradingView.
From a technical analysis standpoint, Ford's stock looks bearish for the short term but bullish
It should be noted that holding stocks or options over an earnings print is akin to gambling because stocks can react bullishly to an earnings miss and bearishly to an earnings beat.
The Ford Chart: Although Ford has retraced almost 9% from its July 18 high of $14.85, the stock hasn't negated its uptrend on the daily chart. For the uptrend to be negated, Ford will need to either bounce up to form a lower high under that level or continue to retrace until falling under the most recent higher low, which was printed on July 5 at $12.75.
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