Weaker recoveries were seen in both the UK manufacturing and service sectors, with the latter recording the greatest loss of momentum since July.
Tesla: buy the dip?
2021-03-02 • Updated
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Why? Actually, there are two reasons. The first is Bitcoin. Tesla has just recently invested $1.5 billion in cryptocurrency and made $1 billion in a month from its investment. However, the current weakness of Bitcoin made some investors go away from Tesla in the near-term. The second reason is Tesla announced it would stop selling its cheapest car: The Model Y. That raised questions over the demand for Tesla cars. Since Ford and General Motors are entering the market of electric vehicles, some investors worry whether Tesla can sustain this competition.
In the short term, Tesla may keep falling. However, in the long term, it should rebound from its losses as the company has a huge army of fans that believe in its further prosperity. The good news for FBS traders is that they can make both buy and sell trades. So a trader doesn’t need to hold already an asset to sell it. Thus, traders have a chance to profit in case of either outcome.
If Tesla drops below the 100-day moving average of $625.00, the way down to the December low of $560.00 will be clear. On the flip side, the move above the 50-day moving average of $780.00 will drive the stock further up to the February high of $880.00.
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Walmart has published its earnings results for the second quarter of 2021, which exceeded analysts’ expectations. As a result, the stock surged!
Walt Disney has revealed its financial results for the third quarter, which were much better than analysts forecasted!
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.
Let's take a closer look at Australia's recent economic performance. Brace yourselves for some interesting developments. The country's economy experienced its slowest growth since late 2021 in the first quarter, raising doubts about the Reserve Bank of Australia's rapid interest rate increases. Despite the bank's record-breaking 12 rate hikes in the last 13 months, the resource-rich economy only grew by a modest 0.2% in the quarter, falling short of economists' expectations.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.