Tesla (TSLA Stock) turnaround? [Video]

Giles Coghlan LLB, Lth, MA Financial Source

Tesla has some broad issues that are a real challenge for the stock price right now. More and more main car manufacturers are getting their Electric Vehicles to market. On top of this, a recession looms for the US. High US inflation last Friday means that if the US faces a hard landing then demand for high-end EVs is going to be reduced. Tesla’s shares are also trading at a very high price-to-earnings ratio of around 50 times.

The one caveat to these factors is Elon Musk. The man can run multiple companies when many people struggle to run even one! The only problem is this, has Elon Mush bitten off more than he can chew with his purchase of Twitter?

Well, the seasonals are very promising for Tesla, so if there are any upcoming reasons for a stock turnaround then check these seasonals out. Over the last 12 years, Tesla has gained a whopping average of 13% between October 17 and November 28. Will it repeat these gains again?

Major Trade Risks: The major trade risk here is that if the US head into a hard landing and EV demand is reduced.

Learn more about HYCM

Author

Giles Coghlan LLB, Lth, MA

Financial Source

Giles is the chief market analyst for Financial Source. His goal is to help you find simple, high-conviction fundamental trade opportunities. He has regular media presentations being featured in National and International Press.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.