
What are the first stocks that'll see their quarterly reports out? Let's check them out and prepare for some moves in the stock market!
2020-09-29 • Updated
This is the stock price performance of Piedmont Lithium – and Australian-based company that extracts the metal essential for EV batteries. Tesla signed a 5-year deal to take lithium from Piedmont – in addition to its other plan to extract the metal in Nevada. Piedmont’s stock surged by almost 300%. Tesla’s stock is still in a downturn though.
The daily chart below shows that Tesla is consolidating around the current level of $420. The heights of $500 were left in the dust a month ago but may turn into a bullish target soon – once we see the downtrend capping the upside broken. In the long-term, it’s unlikely that Tesla will go down because fundamentally, it keeps expanding its horizons. Even though its P/E ratio is way beyond 20 as Warren Buffett liked to warn, the business outlook for Elon Musk’s business looks positive and full of opportunities. And sales – including in China. So let’s wait where the bottleneck of the current fluctuation to exhaust and see where the stock goes.
What are the first stocks that'll see their quarterly reports out? Let's check them out and prepare for some moves in the stock market!
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