The three automakers in this analysis all look as if they are trying to go higher but are a bit quiet in the premarket session on Tuesday. At the moment, it looks like we are bullish, but a short-term pullback could be in order to find value.
Ford looks like it’s going to open flat during the trading session on Tuesday, as we have already seen the market break to the upside and then pull back. Now I think we’ve got value hunters possibly coming back into the picture somewhere near the $13 level. Keep in mind that there’s a little bit of a gap down at $12.50, so that might be interesting as well. So basically, what I’m waiting for is a little bit of a drop and then a bounce to start taking advantage of the momentum and the obvious uptrend that Ford has been in since April of 2025. Ultimately, this is a market where I don’t have any interest in shorting, and Ford does look healthy overall.
Tesla looks like it is going to open a little higher during the trading session on Tuesday as we continue to reach towards the $470 level, and breaking above $470 then opens up the possibility of a move to the $500 level. I believe short-term pullbacks are buying opportunities, with the 50-day EMA offering support at $407, as does $400 underneath, so it all ties together quite nicely.
General Motors looks to open flat, but it is a little extended at this point, and I would suggest that perhaps a pullback makes quite a bit of sense here in order to find the proper value to get long again. GM has been flying as of late, breaking the highs back in January of 2022, and now it has gone a bit parabolic. The most recent earnings report was an absolute monster of a report and just sent this thing flying. In fact, if we were to drop from here and try to fill the gap, we’d be talking about dropping all the way back down to $58.50. Well, I don’t think that happens necessarily. I do think a little bit of a pullback and waiting for value to present itself is probably the way to go here.
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Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.