This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports.
Ark forecasts Tesla at $3000 by 2025
Information is not investment advice
Cathie Wood’s Ark Invest claimed it foresees Tesla to hit the $3000 level by 2025. Nobody doubts that it really can happen as Tesla’s performance is outstanding, especially in 2020. Ark Invest’s bear scenario implies Tesla will reach $1500 per share, while according to the bull scenario, the stock price will hit $4000.
This optimism is caused by Elon Musk’s intentions to launch an autonomous robotaxi service. No driver, just a smart tech system! According to Ark, it will bring in as much as $327 billion in revenue for Tesla.
It’s worth mentioning, Tesla is the largest holding for Ark Invest. The company has been a long-term Tesla bull and has already predicted the massive Tesla’s growth back in 2018. And, Tesla has even outraced Ark’s predictions and beat Ark’s forecasts two years ahead of schedule!
Tesla has risen by 3% in pre-market hours, driven by encouraging Ark’s forecast. Once the stock trading is available (wait for 15:30 MT), Tesla should jump to the 50.00% Fibonacci retracement level of $720.00. If it manages to break this resistance, the way up to the 50-day moving average of $780.00 will be open. Just in case, be aware of support levels at the 23.6% Fibo level of $625.00 and the low of March 8 at $560.00.
The stock trading is also available in our app FBS Trader.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5 . FBS allows you to trade stocks only through this software.
- Open an account in FBS Trader (the MT5 account in your personal area).
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!