2020-11-26 • Updated
Don’t you think that number 5 has become magical for Tesla? Firstly, it will be included in the S&P 500 stock index next month. Secondly, Tesla’s market value hit $500 billion for the first time on record. Thirdly, the company has surged by nearly 550% this year. All that made Elon Musk the second-richest person in the world!
As for inclusion in the S&P 500, Goldman Sachs claimed that this move will trigger the increase of the demand for Tesla by 8 billion dollars from US large-cap mutual funds. S&P should also decide how to make the adding process smoother as 504 companies will lose their influence on the stock index after Tesla will join it.
Someone can say Tesla is overbought, and he would be right, but Tesla is a miracle as it grows no matter what. Actually, Elon Musk predicted that his company will reach these highs 18 months ago. Some analysts on Wall Street believe that it’s just the start of the long rally up. Wedbush Securities announced its “bull case” of $1 000! One of the reasons is that electric vehicle demand is rapidly rising in China. Tesla being a frontrunner will gain a lot from that. But who needs reasons, when it’s Tesla?!
Tesla is approaching the key psychological mark of $600. The move above will drive the price to the next round number of $650. In the opposite scenario, if it drops below the support of $500, it will open the way to the low of November 17 at $440.
By the way, do you know that you don’t need to have $500 to buy Tesla? With FBS you can use CFDs – contracts for difference. You basically trade on price changes like with currency pairs.
Trading stocks with FBS is easy. Follow the simple steps described below.
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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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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