Nowadays, one of the main global problems is climate change. Many countries have already started taking action to cope with it. For example, the US intends to become carbon-free by 2050 by replacing petrol-driven cars with electric vehicles. Thus, many traders have added EV stocks such as Tesla and Apple to their investment portfolios. Should you do the same? Let’s discuss these stocks in detail and make a trading analysis.
Tesla
Tesla has recently announced its production and deliveries numbers for the third quarter. The automaker has produced approximately 238,000 vehicles and delivered over 240,000 vehicles. This data was higher than expected despite a global automotive semiconductor shortage. If Tesla continues performing at the current pace, the company is likely to exceed its target to grow vehicle delivery by 50% in 2021! Besides, investors eagerly await the earnings results for the third quarter on October 20 (preliminary data). The expectations are quite high, that’s why we might expect the Tesla stock price to rise even before the release.
Tech tips
The share price of Tesla Motors stock has been moving inside the ascending channel since mid-May of this year. If TSLA stock price manages to break above the $800 psychological mark, the way up to the next round number of $850 will be open. Support levels are the low of October 1 at $770 and the 50-day moving average of $730.
Apple
It’s not already a secret that Apple has started working on Apple Car – a self-driving electric vehicle with autonomous functions. There was news that Apple is going to make collaborations with other automakers to create a vehicle, but now there is information that the company is working on this project on its own.
Don’t be confused when you look at the chart of the Apple stock. It was among other tech stocks that experienced a huge sell-off after Facebook’s large outage. It’s just a short-term shock for the Apple stock which the company is likely to easily overcome.
The iPhone producer is going to reveal its financial results for the third quarter on October 28. Investors will likely be watching the update closely!
Tech tips
The AAPL stock is moving inside the ascending channel. Since it’s getting closer to the support line (lower one), we might expect the stock to reverse up. Besides, there is a 50-week moving average at $135 just below the current price, which is a strong obstacle that the stock can fail to cross. If the price manages to jump above the $150.00 psychological mark, it will rally up to the high of September 5 at $157.00.
Don't know how to trade stocks? Here are some simple steps.
First of all, be sure you’ve downloaded a trading platform: the FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
There is a period every stock trader loves the most due to significant movements, increased volatility, and, possibly, big gains. Open your trading apps and be ready to act! Earnings season comes four times a year and we crave to share our expectations with you.
As April approaches, investors are searching for good opportunities in the stock market. There are two booming industries that look positive in the coming period; electric vehicle (EV) stocks and banking stocks.
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?