China has issued new oil product export quotas to allow oil companies to send surplus barrels overseas, particularly Sinopec, which has the highest volume among quota holders. While the exact quota volume remains undisclosed, oil companies are forecasted to export approximately 3.5 million metric tons of clean oil products in September, a 10% increase from August.
The most promising stocks right now
2020-05-21 • Updated
Could you predict that Netflix would rise amid the coronavirus lockdown? Obviously, but if you have lost the chance to buy it, don’t miss it now! Buy these 5 stocks!
It’s the best time to consider buying stocks that will gain as the coronavirus continues and people adapt to the new reality and change their life habits. Such industries as e-commerce, streaming, online food delivery, gaming and cloud companies benefit from social distancing and stay-at-home restrictions.
The first thing that comes to mind is the biotech industry, especially companies that create vaccines. Moderna, Inc. has recently revealed successful results of its first tests on people. Its stock price surged by 20% on Monday immediately after the optimistic report. Then it contracted by 10% on Tuesday, but new positive results can push it upward again.
Mastercard and Visa
These stocks didn’t perform so well in 2020. The stock price of Mastercard fell down from $348to $203, when the coronavirus pandemic started. However, let’s think about it this way: people preferred paying with credit cards than cash even before the coronavirus, just because it was handier. These days people try to avoid cash as it can spread the virus. This is an important reason for the future growth. The Mastercard stock price jumped to $290 and has some upside potential.
This tech company grows no matter what. It is a member of a prestigious IBD Long-Term Leaders list, that consists of stocks that have an incredible reputation of long-term gains. Moreover, this company always implements innovations to keep on track. Their cloud-based services are in high demand amid the coronavirus lockdown as it allows companies to continue working from home. The last April report showed that earnings rose by 23% and revenues – 15%. If we look at chart, we’ll see the price had declined since the beginning of the coronavirus, but then it almost returned to its previous price level. We may see soon a pull back to 78.6% Fibonacci level, and then the price can kick off from this level and move up again. It’ll be a good entry point.
This company has benefited from the deadly pandemic more than anyone else. Amazon is all in one: e-commerce, online delivery, cloud computing and digital streaming. Its gains seem to be unstoppable. People will continue ordering products and watching movies through Amazon Prime. Companies will continue using its Amazon Web Services. However, it wasn’t enough for Amazon, it has recently entered the healthcare sector. It bought the online pharmacy and also launched Transcribe Medical that allows doctors treat patients online and make medical recordings. The company holds all the cards now, by the diversification it reduced its future risk to minimum. Amazon is best of the best for investors to buy now. Let’s look at some technical levels. The price had been rising since March 16. It set a strong upward trend. Support levels are 2356 and 2287.
If you want to know more about stocks, read "How to trade stocks with FBS?".
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.
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