ONLINE FOREX BROKER
2020-08-28 • Updated
Tesla hit a new record on Thursday. Does it still have the potential to the upside? Let’s look at what analysts say.
Tesla stock skyrocketed to the fresh high of $2 295 on Thursday, leaving behind all its rivals – other carmakers. Some analysts believe it happened after the optimistic comment of Jefferies & Co.
The company went public 10 years ago and has managed to increase its value so far from $17.54 to $2 295. It's... impressive, isn't it? On July 1 it has become the world’s most valuable carmaker, outperforming even Toyota. However, in comparison with Toyota and Volkswagen, Tesla sold fewer automobiles. Retail sales in 2019 were, as follows: Toyota – 10.46 million, Volkswagen - 11 million, while Tesla – 367 200 vehicles. Nevertheless, Tesla is developing at a rapid pace, and its’ founder Elon Muck is planning to deliver half a million cars till the end of this year.
Besides, Tesla has succeeded to make a profit in the second quarter of 2020 for the fourth time in a row despite difficulties amid the coronavirus pandemic. That allowed the tech giant to be included in the prestigious S&P 500.
Wedbush’s best-case scenario implies that Tesla may reach $3 500. The main reason is the increased demand for electric cars in China. The company’s new Gigafactory 3 in Shanghai will boost production to meet all the orders. By the way, don’t forget that the soon stock split may add tailwinds to Tesla as well. Analysts say that the psychological effect of owning whole shares in the company people admire will attract more investors. Trading will begin on a split-adjusted basis on August 31. Don’t miss out the moment!
If Tesla’s price breaks through $2 250, it will open doors towards the next resistance of $2 300. In the opposite scenario, the move below the key psychological mark of $2 000 will drive the price lower to the support of $1 860. Follow further news on Tesla and catch the market movement!
Trading stocks with FBS is easy. Follow the simple steps described below.
Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
More and more analysts are sure Brent oil will surpass $100 a barrel. So how heavily will oil move the markets, and what will the direction of the movement be? Let's find out!
About PayPal PayPal is an electronic commerce company that facilitates payments between parties through online transfers…
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.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
