Bitcoin skyrocketed 5% after Tesla’s founder Elon Musk officially announced it will accept the cryptocurrencies as payment.
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.
It's more easier to trade stocks in our app FBS Trader.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5 . FBS allows you to trade stocks only through this software.
- Open an account in FBS Trader (the MT5 account in your personal area).
- Start trading!
GameStop is back! It has already surged by 14% in pre-trade hours.
On Wednesday, Russia’s department of communications control Roskomnadzor slowed down Twitter’s speed. What does it mean for the stock?
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!