Ford is having its best year in nearly a decade, but not all of Wall Street is sold on the stock's turnaround.
The automaker's stock has surged 35% this year, its largest increase since 2010. It is also on track for its best quarterly increase since 2012."I think it's too early to say that Ford's on the road to recovery. It might as well be on a road to nowhere when you look at this chart. You're still very much in a downtrend," Piper Jaffray chief market technician Craig Johnson said Friday on CNBC's ""It's going to take a close above at least $10.
I'm not interested in the stock until you reverse the downtrend. Even though it's up 40%, I'm sticking with the technical rules and looking for that reversal," Johnson added."We've been pretty neutral on the auto sector, but within that sector this is the one large-cap automaker that we own," Chiavarone said during the same segment.
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