2020-08-19 • Updated
What are the reasons for its rally?
Tesla skyrocketed to $1 835 on Monday. Recently the company has announced a 5-for-1 split. It will make the stock more accessible to a broader base of investors. Each Tesla shareholder will receive four additional shares for every share held. Trading will start on a split-adjusted basis on August 31.
Actually, the stock’s rise might be caused by the positive call from Wedbush. He said that Tesla has a capacity to grow further because of the increasing Chinese demand for electric cars. A new Tesla’s factory opened in Shanghai last year. Elsewhere, he mentioned that Elon Musk may unveil some surprising news on September 22 on Battery Day. In addition, Bank of America and Morgan Stanley raised their rating of Tesla. They expect the tech giant will present some advanced battery technologies, which will allow to decrease its costs. After the price’s surge Elon Musk got a prestigious title of the fifth-richest person in the whole world. Notably, he owns 21% of Tesla but has pledged almost 50% of his stake for loans.
According to Wedbush, the stock price may surge to $1 900 soon. Indeed, the current risk-on sentiment may help the stock to reach this level. However, if Tesla drops below the low of August 14 at $1 645, it will open doors towards the next support at $1 500. Catch the market movement and join the flow!
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Bearish Scenario: Sales below 80.00 with TP1: 79.34, TP2: 78.94, TP3: 78.55, and 78.00 Bullish Scenario: Buys above 78.00 (wait for a retracement to the zone) with TP: 79.34 TP2: 80.00, and TP3: 81.00
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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