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Tag: STOCKS

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Tesla Share Price Reaches An All-time High

The American electric vehicle and clean energy company, Tesla surged to a $1 trillion valuation yesterday. The last two trading weeks have been bullish for $TSLA as the price broke the previous resistance level at $900 as the price closed at $910 on the week of the 22nd of October, 2021. The market opened this week, the 25th of October with a gap up at $946.71, then the price rallied $1092.07 which makes it an all-time after the last stock split that took place on August 31, 2020. The split was a 5 for 1, meaning for each share of TSLA owned pre-split, the shareholder now owned 5 shares.

Tesla Weekly Chart

Since March 2021, Tesla’s price has maintained a support level at $543.32 after the initial breakout to the upside in November 2020. Price retraced to touch the support level both in March and March 2021, before the most recent bullish movement to the all-time high.  On the weekly chart, there are a few gap-ups in the last few days, which indicates a possibility of a reversal of price below $1,000. Price has maintained the upper region of the Bollinger bands since the beginning of the second half of the year.

Tesla Daily Chart

On the daily chart, the market closed yesterday with a Doji after reaching a new milestone. The price might reverse to close the gap ups, which might reduce the $TSLA share again below $1,000. Price has crossed to the overbought region of the RSI, this indication might lead to a reversal.

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Boeing’s Share Price Consolidates

The share price of Boeing opened at $209.91 at the beginning of this year. Price rallied to $272.98 on the 15th of March, 2021, which makes it the highest level $BA reached since the pandemic began. In 2019, Boeing’s share price reached an all-time high at $445.62. After the all-time high was reached, a head and shoulder was formed, which resulted in a dip to the lowest level at $90.29, which was during the pandemic. The current price of Boeing is at $214.34, which is almost falling to the year’s opening price at $209.91.

RSI showed that the price has been oversold in July 2021 at the support level of $205.50. After the dip in July, a rally occurred temporarily, the price has been consolidating around the support level since the second half of this year. The price of $BA has not really favored investors in this month of October as the price has been falling continuously. Consolidation of price is around $214.34 which could lead to the next rally towards $230. As countries across the world increase the administration of vaccines, there might be a huge rally, which is as a result of an increase in international flights globally, which might break the resistance level at $240.08 to the upside.

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Facebook Share Price Broke The Support Level

The Facebook share price has been enjoying a smooth ride as the bulls were able to take the price to an all-time high in September. After the all-time high was reached at $384.33, the price fell to $338.90. For the past 4 trading days, the price has been consolidating around the support level at $338.90, but the unusual happened yesterday as there was an outage. This outage affected the three-platform owned by Mark Zuckerberg i.e. Whatsapp, Facebook, and Instagram for about 6hours. Bloomberg gathered that the global service outage that kept its social media apps offline for much of Monday on a problem with its network configuration, adding that it found no evidence that user data was compromised during the downtime. 

The $FB market opens at $335.75 yesterday and the price went as low as $322.25, but the market closed at $326.23. There is a rise in the pre-market price as the price is currently at $328.25. Taking a looking a weekly chart, the price was already overbought on the RSI, the outage only brought about a correction in price. The last 3 trading weeks show the price of $FB has been falling prior to the outage. A gap down occurred at the end of the second trading week in September, price is yet to retrace to the gap down. Also, yesterday’s opening price was after a gap down. Investors should be hopeful, as the price could retrace in the coming weeks to the second, then the first gap down.

The share price of $FB is currently at the lower region of the Bollinger bands. As normalcy is restored to the various platforms owned by Facebook Inc, we hope the price of $FB will begin to rise.

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Facebook Share Price Dips

Facebook is an American online and social media and social networking service owned by Facebook Inc. In Facebook’s 17years of launch, the social networking site has about 2.85billion users as of 31st March 2021. $FB’s investors have had a rewarding year as the opening price was at $259.20. The price was able to reach $384.33 this September before a correction began. The correction has pushed the price lower to $340.65 at the close of the market yesterday. After the price reached a new all-time in June 2021 at $341.74, $FB share price has continued to rally. The new support level is around $341. The bears were able to push the price lower in July, but it was a fake-out of support at $341.

Despite RSI showing that the price has been overbought at three different times on the 4hr chart, there was an oversold indication in the past few days. The candlesticks still maintain the lower region of the Bollinger bands. There are tendencies the bulls might become very active soon, thereby appreciating the price of $FB. Since the acquisition of Whatsapp in 2014, Facebook has increased its price by a 5X growth rate. Also, price appreciated furthermore after the dark mode was launched on mobile devices. The share price might be boosted as Facebook expands the metaverse initiative with $50million.

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FedEx is currently on a downtrend

This year started well for FEDEX investors as prices rallied from $260.01 to $320.57. A ‘head and shoulder’ was formed between January and February of this year before the bull run to the all-time high was reached. Another indication was shown in January as there were two oversold spots, which later led to the bull run to the all-time high at $320.57. After the all-time high was reached, the price reversed to the downside, to reach $255.20, which was the next support level. There was little price movement in the share price of $FDX in 2019 at prices ranged between $139 and $199. The investors must have had a huge relief as the share price of FEDEX began to go to the upside, which eventually pushed the price to the previous all-time high in 2018 at $274.49. 

The earning reports for FDX will be released in about a week. As FedEx, Salesforce Collaborate On E-Commerce, Supply Chain Management (yahoo.com), this might lead to the next bull run of $FDX. Just as this writer doubts the next bull run, FedEx (FDX) Earnings Expected to Grow: Should You Buy? (entrepreneur.com). We are anticipating a bull run as the earnings report is released on the 21st of September, 2021. $FDX has been on a losing streak in the past few weeks. The second half of this year has not been favorable for $FDX investors as there has been a huge sell-off. The next bull run of $FDX might push the price to a new all-time high above $320.57.

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AstraZeneca’s Share Price Reaches A New Resistance Level

$AZN share price reached a new resistance at $60.87 in July 2021, after millions of doses were rolled out across the world. As of yesterday, 40.6% of the world population has received at least one dose of a Covid-19 vaccine. There have been several cases of countries halting the use of the $AZN vaccine as a result of rare cases of blood clots. The share price of major vaccine companies like Moderna, BioNTech-Pfizer, Sinovac had a shortfall. As many companies are making it mandatory for their workers to be vaccinated, more of these vaccines will be rolled out. As many companies are beginning to return to the office, incentives were given to the workers for receiving the Covid-19 jab. Workers who fail to receive the jab might risk termination.

Companies like American Airlines, Bolthouse Farms, Dollar General, Instacart are paying workers after being vaccinated. The price of $AZN went as low as $46.38 in February of this year as several issues were raised across all vaccine manufacturing companies, majorly for blot clots. Since July, $AZN has been consolidating around the resistance at $60.83. The price might drop in the coming weeks as some workers of companies might tender resignation because the vaccines are made mandatory, which deprives them of their human rights. Since May 2021, RSI has shown three indications of the price being overbought.

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Netflix’s Price Has Been Consolidating

The first half of 2020 started so well for Netflix investors as the price remained bullish. The lockdown must have aided the bull run as many countries were on lockdown, getting on Netflix was one of the ways to maximize the lockdown. Before the lockdown, between January 2018 and January 2020, the price of $NFLX was ranging between $228.51 and $421.60. But in May 2020, a breakout to the upside occurred as price brokeout the then $421.60 resistance level. The highest price level $NFLX reached this year was at $591.89, resulting in major resistance. The resistance level at $591.89 was last reached in July 2015 when $NFLX had a stock split at 7 for 1, as the price moved from $662.25 to $110.69.

A head and shoulder pattern is being formed as price retraces back to $569.19. RSI has indicated at two different times of price being overbought between July and August 2021. A reversal might occur, which might result in a sell-off. $NFLX might lose about 160points from the current price at $569.19. Price is currently maintaining the upper region of the Bollinger bands. This year’s support stands at $479.57. As sell-off begins to occur, the year’s gain might be wiped out, as the price might reverse to $409.96.

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Goldman Share Price Might Drop

Goldman Sachs’s share price reached an all-time high at $418.27 on the 12th of August, that’s about two weeks ago. This could have happened as a result of $GS’s deal with Fiserv. Towards the last week in July 2021, Goldman Sachs boosted the transaction banking business with the Fiserv tie-up. This innovation has attracted more than 250 clients, which was over $35billion in deposits and trillions of dollars in the system since June. The all-time high of $GS in June was at $392.71.

Just recently, Goldman Sachs demands proof of vaccine status for US office entry. This may not go well with some clients as there are many controversies around the administered vaccine. The return-to-work policy is accompanied by mandatory once-a-week testing for employees and enforced mask-wearing in shared office spaces to contain the rapid spread of the Delta variant in the US.

In August, $GS had the most recent all-time high at $418.27, after which the price began to fall, there was a retracement that brought the price to $416.69 just yesterday. Indications are showing of a possible reversal, which might be due to the new work policy in $GS, for the mandatory vaccine for both staff and visitors. A drop in price might occur, which might bring the price to $361.95.  This might be unfavorable for $GS investors. The new work policy might not stand as there are rising cases of vaccinated persons contracting covid again. RSI has shown since May the price being overbought at three different instances.

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SPX Might Lose Its Bullish Strength Temporarily

SPX is an American index based on 500 large companies listed on NYSE and NASDAQ exchanges. Many regard it as a haven. Many of the stocks in the SPX have reached new all-time highs in the last decade. Companies like Apple Inc, Amazon, General Electric, Facebook, Microsoft, Alphabet, Tesla, and many more are listed in the S&P 500. The market capitalization of SPX is valued at $38.2trillion as of June 30, 2021. S&P 500 has been on a long-term bullish trend over the last decade with only a few corrections. The most recent correction occurred during the pandemic, after which price continued the upward movement. The price of SPX in the year 2010 was at $1111.43, SPX’s price today is at $4,448.07, that’s about 4X over the last decade.

The all-time high price of SPX was at $4480.11 on the 16th of August. In April and July of this year, SPX shows that price has been overbought in the two instances. A correction to the downside might occur as stocks are beginning to fall in the past few days due to increasing cases of Covid-19. Price is currently consolidating at the upper region of the Bollinger bands. The next expected support could be at $4,212 i.e.SPX might lose about 300 points in the coming weeks. 

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Dow Jones Fails to Breakout of Resistance

Dow Jones, being the index of the 30 top-performing U.S. companies, has been in range in the past few months, with the all-time high at $35,260. In January 2021, the Dow Jones passed the psychological level at $30,000 for the first time.

IN January 2020, Price tried to reach $30,000 but the bears pushed the price lower. Since March 2020, Dow Jones has been on a bullish run from its then $20,000, that approximately 75%. Prices of many stocks in the US have reached new all-time highs after the pandemic. There have been rising cases of covid-19 across the world, and especially with the USA having an average of over 100,000 new cases per day.

If covid-19 cases cannot be controlled in the next few months despite vaccines being administered, stock prices might begin to fall across the world and lockdown might be re-imposed. The next major support of $DJI could be around $26,900 if the price falls. As the price of $DJI crosses $33,000, RSI indicated that the price has been overbought, though the bulls still pushed the price higher to reach $35,000. The last time RSI showed that price has been overbought, the price of $DJI was below $30,000 which resulted in about a 40% dip in price.

Price still maintained the higher part of the Bollinger bands, though, in June, there was an indication of a reversal in price, as the price fell to $33,100 from $34,900. Companies in Dow Jones with the highest losses in July were Verizon with 5.9%, Walt Disney 2.5%, and Merck 3.1%. If the price of $DJI fails to break the resistance level at $35,260, the price might fall and might be catastrophic for the investors.

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