Ford’s destiny appears to be like rosy to Inside Edge Capital Administration founder Todd Gordon.

With shares of the automaker assembly resistance within the $20 vary, “I see no cause” why they cannot break decisively above that long-standing ceiling, Gordon informed CNBC’s “Buying and selling Nation” on Thursday.

Ford’s inventory was simply above $20 a share in premarket buying and selling Friday.

“As we have kind of been hanging out right here, Ford has been exhibiting lots of relative energy in comparison with the broader market,” Gordon stated.

The inventory “really appears to be like extra like Tesla” than business friends resembling Basic Motors, he stated.

“If the market drops and that inventory exhibits relative energy, you have to assume when the market recovers, you are going to see an upside transfer up by way of 20,” he stated.

The elemental structure appears to be like equally supportive for Ford, Gordon stated. His agency lately elevated its publicity to the automaker, doubling its place in client discretionary shares after stronger-than-expected client spending knowledge, and upping Ford’s weighting in its development portfolio.

Ford additionally elevated November car deliveries yr over yr, grew its gross revenue margins, diminished a few of its long-term debt and is taking management of its semiconductor-related provide chain points by partnering with chipmaker GlobalFoundries, he stated.

“We’re bullish,” Gordon stated. “With a stable technical image, I see no cause why Ford should not transfer up by way of 20.”

Disclosure: Inside Edge Capital Administration owns shares of Ford.

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