Shares of Ford Motor Co (F) sent a strong sell signal, on a multi-month technical support breakdown. A famous automobile manufacturer, headquartered in the U.S. state of Michigan, lost nearly 14% of its market value since October 27, as it announced postponing its previously planned $12 billion investment in the electric car business. Ford's electric vehicles (EV) would be too expensive for consumers at this stage, the company said, while the demand is lagging. The EV segment is rather new for Ford, and it has a hard time competing with Tesla, as it has its own troubles with a need of providing discounts and clear side effects of lower sales margins.

Ford frozen the construction of a new battery factory in Kentucky. "Given the dynamic EV environment, we are being judicious about our production and adjusting future capacity to better match market demand," said Ford CFO John Lawler. Ford is still committed to spending on future EV models, however, as "we're not moving away from our second generation [EV] products," Lawler remarked.

Some next bearish targets between $6 and $8 per share looks not crazy, but realistic, if one just looks at the stock's chart since 2015 (second picture).