2020-03-13 • Updated
Trade idea
SELL 286.50; TP1 279.40; TP2 272.00; SL 290.00
Tesla stock declined since the end of last year and got to the bottom of the range of 2018. Then a correction up took place. On W1, the price formed a bullish engulfing pattern and closed last week above 275.00 (200-week MA). However, the recovery ran to the downtrend resistance line around 292.60. The stock failed to close above the 50-day MA on Wednesday.
Given the fact that the company’s fundamentals are not great - Tesla has just announced that its sales in Q1 made the biggest drop in history - a pullback to the downside is very likely. In addition, there will be a federal hearing later today related to CEO Elon Musk's ongoing legal battle with the SEC. The agency is asking Federal Judge Alison Nathan to hold Musk in contempt of court over tweets posted in late February about Tesla’s production targets for 2019.
For the third time in a row, Apple reports a dip in sales as it releases its report for Q2 2023. The announcement led to a 7% drop in stock prices as more investors seemed to lose confidence in the stock’s performance.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Are you searching for trade opportunities for December 6-10? Here you go!
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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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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