2021-10-08 • Updated
Companies in the consumer discretionary sector produce goods and offer services that are nonessential, such as appliances, cars, and entertainment. Many people lost their jobs during Covid-19 and even if they didn’t lose, they stopped spending as much money as they used to before the coronavirus crisis. Now, people are getting back to their pre-covid habits as the economic situation has been improving thanks to vaccinations. As a result, consumers have started spending more money on nonessential products and thus pushing the stocks of these companies up. Let’s look at these stocks!
Footwear and apparel stocks are grabbing more and more attention from traders. A recent survey of 10,000 US teens showed that Nike is the top spot among their favorite footwear and clothing brands. Adidas has also entered the top three for footwear. Besides, Wedbush, an investment firm based in Los Angeles, gave Nike and Adidas outperform ratings.
Nike has just reversed up from the 200-day moving average of $145.00 and stopped ahead of the 100-day MA at $154.00. Sooner or later, it will break this resistance level. After this breakout, the stock price may jump to the high of September 23 at $160.00. Support levels are the 200-day MA of $145.00 and the psychological mark of $140.00.
Automakers are edging higher especially those that are engaged in the production of electric vehicles. For example, Ford is making great moves these days. Why? It has been active in trying to become a frontrunner in conversion from petrol-driven cars to electric vehicles by the big US automakers. Ford has announced that it will invest over $11 billion to create an EV and battery manufacturing "mega campus" in Tennessee in combo with other battery plants in Kentucky, and also with Korean partner SK Innovation. In addition, Ford reported its sales for September and claimed that its electric-vehicle offerings have attracted more customers than Ford’s overall portfolio.
The stock price of Ford has rocketed above the psychological mark of $15.00! If it continues rallying up and closes above the $15.50 resistance level, it will rocket to $16.00. It looks that Ford is undervalued and soon will exceed its all-time high of $19.00. Support levels are $15.00 and the 100-day MA of $14.00.
Don't know how to trade stocks? Here are some simple steps.
Coinbase (#COIN) saw its revenue rise to $773 million in Q1 2024, marking a 23% increase from the previous quarter and surpassing analyst expectations.
During his program on CNBC on February 28, Jim Cramer expressed frustration with the impact of earnings reports on market behavior, noting how they often prompt rash decisions by average investors. He criticized the short-term focus and lack of attention to nuance in news coverage of earnings. Cramer cited examples of Home Depot and Lowe's, highlighting how investors reacted hastily to headline news without considering the broader context provided in earnings calls.
As the year winds down and the festive spirit takes hold, the stock market often presents a curious yet anticipated phenomenon known as the Santa Rally. Within this whirlwind of festive trading, let’s look at how two titans of the tech world, Amazon and Apple, might fare during this unique season.
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
