Investors beware… Tesla is slumping to a two-year low

Published

4 years ago

July 2, 2021

In worrying signs for investors, Tesla Inc shares have fallen to their lowest levels since June 2019.

Analysts are concerned the EV manufacturer is approaching a technical level that indicates the strong possibility of further future losses.

The poor stock performance in recent times is also coupled with the stock being on the verge of a “death cross”.

A death cross is when “a security’s average price over the last 50 days falls below its 200-day moving average”.

SHANGHAI, Oct. 19, 2020 — Photo taken on Oct. 19, 2020 shows the Tesla China-made Model 3 vehicles which will be exported to Europe at Waigaoqiao port in Shanghai, east China, Oct. 19, 2020. U.S. carmaker Tesla announced on Monday that it would export the made-in-China Model 3 to Europe, marking another important milestone for its Shanghai Gigafactory. The first batch of exported sedans will leave Shanghai next Tuesday and arrive at the port of Zeebrugge in Belgium at the end of November before being sold in European countries, including Germany, France, Italy, Spain, Portugal, and Switzerland. (Photo by Wang Xiang/Xinhua via Getty) (Xinhua/Wang Xiang via Getty Images)

This is often viewed by analysts as a sign that share prices will continue to fall.

Tesla’s shares last suffered from this trading pattern back in 2019, which saw a 40 per cent decline in the company’s share price.

US stocks surge as banks report record profits

US stocks rise as banks report near-record profits; CPI slows, fueling hopes for continued Federal Reserve rate cuts.

Published

5 hours ago

January 16, 2025

ticker NEWS

US stocks rise as banks report near-record profits; CPI slows, fueling hopes for continued Federal Reserve rate cuts.

US stocks rose sharply following strong earnings reports from four major banks: JPMorgan, Goldman Sachs, Citigroup, and Wells Fargo.

The banks reported their second-most profitable year ever.

JPMorgan achieved a historic milestone by becoming the first US bank to exceed $50 billion in annual profit.

Goldman Sachs saw record revenue from its equities trading division.

Citigroup reported record revenue in three of its five key segments: wealth management, US personal banking, and services.

Wells Fargo, while having the smallest presence on Wall Street, recorded a 62 per cent increase in annual revenue from investment banking.

Bank of America and Morgan Stanley are set to announce their results on Friday AEDT.

In other news, the core Consumer Price Index (CPI) for December rose at a slower rate than anticipated, indicating a potential easing of inflation.

This development has strengthened expectations that Federal Reserve policymakers may have room to continue cutting rates.

Consequently, the yield on the US 10-year bond dropped by 14 basis points to 4.66 per cent.

Similarly, UK yields fell by 16 basis points to 4.73 per cent after services inflation in the UK decreased to 4.4 per cent in December, down from 5 per cent in November, a more significant decline than the 4.8 per cent economists had predicted.

Money

Bitcoin rises 2% as market awaits inflation report

Published

19 hours ago

January 15, 2025

ticker NEWS

As of January 15, 2025, Bitcoin (BTC) is trading at approximately $97,198, reflecting a 2.17% increase over the past 24 hours. The cryptocurrency’s market capitalisation stands at around $1.93 trillion, with a 24-hour trading volume of about $54.23 billion.

This recent uptick comes as investors anticipate the upcoming U.S. inflation report, which could influence the Federal Reserve’s monetary policy decisions.

Money

Recovery on the horizon: investing in growth

Published

3 days ago

January 13, 2025

ticker NEWS

The ‘gloom to soon’ signal points to shares and property gains

Money Minute features finance expert Dr. Steve Enticott from CIA Tax, guiding audiences through practical advice and innovative strategies for financial freedom.