Analytics

News, Trends, & Analytics 16.04.2020

Why has Tesla doubled in price?

Today, the focus is on a sharp decline in US retail sales, statements by Japanese Prime Minister Shinzo Abe, as well as bulls in Tesla shares.

 

News

US retail sales fell below the lows of the last 28 years. Affects USD


Tesla has increased sales of electric cars in China. Affects Tesla


Hong Kong Bar Association called on Beijing not to interfere in the city’s internal affairs. Affects Hang Seng


Japanese Prime Minister Shinzo Abe predicts economic growth of 3.8% with an investment of $1 trillion into the economy. Affects JPY


The number of new cases of COVID-19 in Germany is reduced on the sixth day. Affects EUR

 

Calendar

12:30 GMT

A report will be published on the number of building permits issued in the United States. The expected amount is 1.3 million. If the real number is lower, the USD could respond with a decrease.

 

Technical Analysis

Tesla

Shares of the manufacturer of electric cars have added over 100% of their value since the beginning of March. Growth has only exceeded 20% in recent days, during this difficult situation. However, Tesla even manages to please investors with good data from China, where there is an active increase in sales.

Technical analysis using the Fibonacci fan shows that after correcting the asset to an upward support level (i.e., approximately 600), the stock may resume growth. It is noteworthy that both Goldman Sachs and JP Morgan previously expressed a target price of around 850.

NTA 16.04 - EN_0

EUR/NZD

The chart of the currency pair broke through the upper border of the narrowing channel, in which it has been since mid-March. High probability of bull activation.

NTA 16.04 - EN_0

AUD/NZD

The asset has exhausted its technical growth potential. Against this background, traders may begin to close their purchase orders, which will cause a decrease in quotations.

NTA 16.04 - EN_0

 

AUD/NZD on this day in history

  • Since 2000, Apr 16th has been a trading day 14 times.
  • On 64% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.62%.
  • The downward trend was limited to 0.55%.
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