Apr.08 -- Adam Jonas, Morgan Stanley head of global auto and shared mobility research, says investors need to own Tesla stock and he thinks the automaker will benefit greatly from the U.S. infrastructure package. He speaks on "Bloomberg Markets."
Tesla Inc’s (NASDAQ: TSLA) stock has so far failed to make a significant move back to an all-time high like some of its Nasdaq 100 counterparts. That could change: Tesla’s stock has set up two bullish patterns under a resistance level. The Tesla Chart: On Monday, Tesla’s stock completed the right shoulder of a bullish inverted head-and-shoulders pattern, reaching $708.16 — exactly $10 below its next resistance level of $718.16. The stock is trading above both the eight- and 21-day exponential moving averages, and it appears the eight-day EMA is about to cross back above the 21-day EMA, which is bullish. On Wednesday, Tesla completed its sixth daily candle in a bull flag pattern, with the first three candles in the pattern creating the pole and the last three candles creating the flag. Since there is a retracement in a bull flag pattern, traders and investors may be looking to buy the dip at the bottom of the flag before Tesla’s stock reacts to the pattern and makes a bullish move higher. Tesla’s stock could then stall temporarily under resistance at around $718 before jumping above it and continuing on an upward trajectory. If Tesla’s stock can trade above the resistance at $718, it has room to move up to fill the gap between $768.50 and $777.37. Related Link: Why Tesla Stock Is Trading Lower Today What's A Bull Flag? A bull flag consists of an upwards pole, where the stock price has moved up quickly with a flag formation at the top of the pole. The flag formation is a descending channel where the stock price retraces slowly and not by more than 50% the length of the pole. The flag formation is considered to be consolidation before the next leg up. TSLA Price Action: Tesla shares were down 3.09% at $670.26 ahead of the close Wednesday. Related Link: Why This BofA Analyst Says General Motors Is A Top EV Stock Photo courtesy of Tesla. See more from BenzingaClick here for options trades from BenzingaFacebook Option Traders Are Betting On An All-Time High Run3 Bullish Tech Stocks For Technical Traders Going Into The Week© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
GM is pausing production at several North American plants due to the global chip shortage affecting the entire auto industry.
Following a year of massive growth in the value of Bitcoin, Coinbase Global is set to launch its highly anticipated initial public offering. The Coinbase IPO is set to trade next Wednesday.
The low-end model may be cheaper than the others, but you may not find it inexpensive.
After the worst quarterly loss since 2016, gold prices could climb if equity markets soften and volatility rises, analysts say.
It's unclear whether inflation will see a lasting comeback, but a booming, stimulus-fed economy rebounding from the COVID-19 pandemic seems all but certain to send some near-term inflationary shock waves through financial markets in the months to come.
General Motors (NYSE: GM) said this week that its China deliveries rose 69% in the first quarter from a year ago as it continued to benefit from a product-line overhaul and the country's recovery from the pandemic. GM and its joint-venture partners delivered over 780,000 vehicles in the first quarter, a sharp rebound from the first quarter of 2020, when much of China was shut down amid the initial coronavirus outbreak. GM, like most global automakers, participates in China's auto market through a series of joint ventures with domestic Chinese automakers.
Morgan Stanley analyst Katy Huberty raised estimates and price targets on a number of hardware stocks. She first turned bullish on the sector in October.
AppLovin Inc. is shooting for a valuation of more than $30 billion as the app software company set terms for its initial public offering in its bid to catch a sizable piece of a $200 billion mobile app market.
(Bloomberg) -- Retail day traders whose frenetic buying sent stocks like GameStop and AMC Entertainment soaring this year are tilting away from tiny memes in favor of mammoth old blue chips like GM and Microsoft.That’s one explanation offered by analysts at JPMorgan and VandaTrack for why small-cap stocks have cooled, with the S&P 600 Smallcap Index falling about 5% from a March 12 record. Meanwhile, S&P’s large-cap benchmark advanced almost 4% over the same period to an intraday record on Thursday, with Microsoft Corp., General Motors Co. and Starbucks Corp. setting new highs this week.VandaTrack posited that older investors with more conservative goals may be picking up some of the recent slack in volume left by younger cohorts.“Wealthier individuals from the Boomer generation may have been responsible for the ramp-up in purchases,” VandaTrack analyst Giacomo Pierantoni wrote. “The average investors’ age in platforms like Schwab or TD Ameritrade is close to 50, and they’re a lot more wealthy than millennials.”Pierantoni also pointed to large inflows into sovereign bond and credit ETFs. “While most Robinhooders tend to stay away from ‘boring’ fixed-income products, Boomers, who are closer to retirement, often prefer them to equities,” he said. Pierantoni cited Charles Schwab Corp.’s monthly data that show bond ETFs and mutual funds inflows were more than twice the amount for equities.JPMorgan strategists similarly suggest individuals may have turned toward large companies over small, citing a recent imbalance of retail orders for ViacomCBS Inc. and GM. Discretionary and communications sectors have seen strong retail volumes, according to analysts led by Peng Cheng. The traders remain active in hot sectors like alternate energy and cryptocurrency, with Nasdaq exchange-traded funds still sparking interest.A recent survey of more than 1,000 investors from Charles Schwab shows that the newly minted daytraders that arose in 2020 earned less and were harder hit financially by the pandemic than more seasoned peers. What’s more, 72% of those new investors surveyed were more focused on buying and holding for the long-term, compared with 56% who were in it for the long-haul last year.Whatever the cause, smaller stocks have been losing ground, after their rallies and surging volume that lit up the first quarter failed to reignite in April. Empire Financial Research’s Whitney Tilson has been tracking a basket of 25 short-squeeze bubble candidates since late January -- including GameStop Corp., AMC Entertainment Holdings Inc. and Express Inc. By his reckoning, they’ve peeled off a staggering $63 billion in value.“Worse yet, the actual number is surely higher due to leverage and options,” Tilson said via email.(Updates to add details from an investor survey in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The semiconductor manufacturer officially launched its "Ice Lake" server chips. Shipments began in the first quarter.
Analyst Brad Sills launched coverage on a slew of companies in the group, laying out a bull case for many of them.
Tom Jessop, head of Fidelity Digital Assets at Fidelity Investments, says that the maturation and adoption of digital assets as a class of investments will continue at a rapid race in coming years, signally that crypto may have turned a corner in the world of traditional finance.
The S&P 500 eked out yet another record close on Wednesday, as the Federal Reserve reassured investors that it is in no rush to tighten fiscal policy — and some of that momentum is set to continue into Thursday. But it may not last for long.
Del Principe O’Brien Financial Advisors recently released its March 2021 investor letter – a copy of which is available for download here. You should check out Del Principe O’Brien Financial Advisors top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021. In the Q4 2020 Investor Letter, […]
(Bloomberg) -- Amazon.com Inc. offered a rare peek into the Covid-era growth of its Indian business while it battles Walmart Inc. in its biggest overseas market.The U.S. online giant said it has enabled exports of Indian-made goods worth $3 billion and created over a million local jobs since it began operating in the Asian nation about a decade ago -- about $1 billion of that and 300,000 jobs since January 2020 alone. About 250,000 new sellers have joined Amazon.in since and more than 50,000 offline retailers and neighborhood stores are now on the platform, the company’s country chief said.The numbers illustrate the frenetic pace of growth in Indian online retail after the pandemic accelerated buying and selling in segments beyond smartphones and fashion. But Amazon has to contend with Walmart’s Flipkart and homegrown competitor Reliance Industries Ltd. in India, an increasingly important growth market since Amazon’s exit from China about a decade ago. American firms also face tightening regulations, antitrust scrutiny and accusations they’ve elbowed local players aside.Amazon India chief Amit Agarwal said the Seattle giant is on track to fulfill commitments made when founder Jeff Bezos visited the country in January 2020: to digitally enable 10 million businesses, handle e-commerce exports worth $10 billion and create 1 million additional jobs in India in the five years to 2025.Read more: Ambani Wages Price War With Amazon for $200 Billion India Prize“Covid-19 has made businesses realize they need to be more resilient, robust because there’s no notion of only offline or only online anymore,” Amazon India chief Amit Agarwal said in a phone interview on Thursday to discuss the unit’s progress. “The internet is like electricity, everybody will use it.”Bezos has made India the centerpiece of his global ambitions, a burgeoning market for not just online goods but also video content and gadgets. The country, one of the last big consumer markets still up for grabs, will generate $200 billion in e-commerce sales by 2026, Morgan Stanley estimates.It’s also a source of talent. Amazon has hired locally in fields like machine learning and software development, while employing an army to staff its giant fulfillment centers. It’s also profiting by helping more than 70,000 Indian exporters sell everything from toys and bed linen to jewelry and tea to 300 million customers across 200 countries.Read more: Walmart’s Flipkart Is Said to Aim for IPO in Fourth QuarterReliance and Flipkart, which is said to be preparing for a fourth-quarter initial public offering, are employing the same playbook but Agarwal said Indian e-commerce remains embryonic and can support several major players.Amazon will focus on local execution while complying with local regulations as they evolve, he added. The Ministry of Commerce and Ministry of Information Technology have been pondering a raft of laws and rule changes to protect consumer data and eradicate anticompetitive practices, while a backlash against U.S. and Chinese internet giants grows. Agarwal said Amazon is compliant but stressed a stable regulatory system -- particularly during a time of heightened global uncertainty -- was essential to drawing more investment into India.“We are more than happy to be inspected, our job is to focus on the customer and India is a long term investment for Amazon,” he said. He said it’s not the time to make changes. “Changes are very disruptive and any rule changes require adherence and changes on our part.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Beerud Sheth, Gupshup Founder and CEO, joins Yahoo Finance’s Alexis Christoforous to discuss the messaging platform startup’s growth and outlook on messaging services.
New York’s plan to allow mobile sports betting in the Empire State is good news for (DKNG) but less so for (PENN) according to Loop Capital. The hope is that taxes from mobile gambling will help close New York’s budget gap. Ultimately, four or more online sports betting operators will be allowed in the state after a competitive bidding process that favors companies that have relationships with the state’s tribal casino operators.
Yahoo Finance’s Alexis Christoforous and Kristin Myers discuss ETFs to watch with Cinthia Murphy, Managing Editor of ETF.com.
When Citigroup reports earnings on April 15, investors get a chance to pass judgment on new CEO Jane Fraser.
Yahoo Finance