Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Ark forecasts Tesla at $3000 by 2025
Cathie Wood’s Ark Invest claimed it foresees Tesla to hit the $3000 level by 2025. Nobody doubts that it really can happen as Tesla’s performance is outstanding, especially in 2020. Ark Invest’s bear scenario implies Tesla will reach $1500 per share, while according to the bull scenario, the stock price will hit $4000.
This optimism is caused by Elon Musk’s intentions to launch an autonomous robotaxi service. No driver, just a smart tech system! According to Ark, it will bring in as much as $327 billion in revenue for Tesla.
It’s worth mentioning, Tesla is the largest holding for Ark Invest. The company has been a long-term Tesla bull and has already predicted the massive Tesla’s growth back in 2018. And, Tesla has even outraced Ark’s predictions and beat Ark’s forecasts two years ahead of schedule!
Tesla has risen by 3% in pre-market hours, driven by encouraging Ark’s forecast. Once the stock trading is available (wait for 15:30 MT), Tesla should jump to the 50.00% Fibonacci retracement level of $720.00. If it manages to break this resistance, the way up to the 50-day moving average of $780.00 will be open. Just in case, be aware of support levels at the 23.6% Fibo level of $625.00 and the low of March 8 at $560.00.
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What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!