Tesla (TSLA) Stock: Revenue Hits $25.18B, EPS Beats at $0.72

Tesla delivered a mixed Q3 result, trading at $94 following an earnings beat that executives discussed. Adjusted earnings per share (EPS) were $0.72, above analysts’ expected $0.60. Meanwhile, Tesla’s adjusted net income was $2.5 billion, and free cash flow reached $2.9 billion. One of the remarkable numbers was the gross margin at 19.8% compared to the expected 16.8%. This boosted investor confidence in the company’s current market position.

Tesla delivered 462,890 vehicles in Q3, showing a 6.4% growth over the previous quarter, slightly below Wall Street’s expected 463,897.

Promising Future: Cheaper EV and Cybertruck

Tesla’s future looks promising as CEO Elon Musk highlighted several major developments in the financial report. The company plans to introduce a more affordable electric vehicle (EV) in the first half of next year. Moreover, Musk projected annual Tesla volume growth of approximately 20% – 30% by 2024.

Another profitable segment was the Cybertruck, which showed a positive gross margin for the first time. The CEO discussed high-scale manufacturing of full Cybercab, planned for 2026, with an ambitious target to reach 2 million cars annually. Additionally, Tesla’s robotaxi testing in San Francisco, California, may advance autonomous driving capabilities.

Tesla Stock Chart Analysis

TSLA/USD 15-Minute Chart

Examining TSLA’s recent performance shows a bearish trend over the last few sessions. The stock declined from $ 222.81 on October 16 to a low of $212.11 on October 24, representing approximately a 5% loss. Despite impressive Q3 earnings, the stock continued declining, suggesting investor concerns about delivery numbers and broader market conditions.

Tesla (TSLA) Stock Faces Key Support at $212

From its recent low, the stock showed a minor recovery, reaching $213.57. However, it remains near crucial support levels. A break below $212 could signal continued investor caution. Alternatively, the stock might resolve upward and clear resistance at $216.

While EPS and gross margins exceeded expectations, delivery numbers slightly missing targets may contribute to recent weakness. Market sentiment and economic factors remain crucial for Tesla’s performance.

We’ll monitor potential price breakouts below $212 or upward moves that might indicate an early rebound. Caution is warranted as market stagnation continues.

If you’re watching Tesla (TSLA), monitor the $212 support level. A breakdown could lead to further decline, while movement above $216 might signal recovery. Exercise caution and observe market conditions before making investment decisions.

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Oil and Natural Gas: Friday Targets and Prices

The oil price reached a new weekly high of $72.34 on Thursday, October 24
The price of natural gas managed to regain the $3.00 level on Thursday, October 24

Oil chart analysis

The oil price reached a new weekly high of $72.34 on Thursday, October 24. Shortly after the formation of this high, the price began to retreat, and by the end of the day, we were again below the $70.00 level. During this morning’s Asian session, oil is moving in the $70.20-$70.60 range. In the EU session, we see increasing price pressure and new testing of the $70.00 level.

Bearish momentum is building and we expect to see a break of yesterday’s low of $69.80 and the formation of a new one below. Potential lower targets are $69.50 and $69.00 levels. For a bullish option, we need a new bullish consolidation above the $70.60 level. With that step, we strengthen the bullish momentum and expect a continuation until the next resistance in the $71.00 zone. Here, we are waiting for the EMA 200 moving average, which could be an obstacle for oil to continue on the bullish side. If we break above, potential higher targets are $71.50 and $72.00 levels.

Natural gas chart analysis

The price of natural gas managed to regain the $3.00 level on Thursday, October 24. The previous time at that level, the price was on October 7. During this morning’s Asian session, the price moved in the zone around $3.00, and now we will see new pressure in the EU session. We are fighting to stay above the daily open level of $2.97. If the current bearish trend continues, we will see a break below and the formation of a new daily low.

After that, natural gas will be under greater pressure to continue withdrawal. Potential lower targets are $2.95 and $2.90 levels. For a bullish option, it is necessary for the price to maintain above the daily open level and start a bullish consolidation. After that, we have an opportunity to test the previous high. If the momentum holds, we will see the formation of a new weekly high. Potential higher targets are $3.05 and $3.10 levels.

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Bitcoin and Ethereum: continued bearish pressure on Friday

On Thursday, October 24, the price of Bitcoin climbed to a new three-day high at the $68,800 level
Yesterday, October 24, the price of Ethereum had a new attempt to recover but again encountered the same resistance at the $2650 level

Bitcoin chart analysis

On Thursday, October 24, the price of Bitcoin climbed to a new three-day high at the $68,800 level. We failed to reach the weekly open level, and a pullback below $68,000 was initiated. With that step, the price dropped below the daily open level, thereby intensifying the pressure. Today’s low was formed at the $67200 level. This is where Bitcoin could find support from the EMA 200 moving average.

The price needs to stabilize again before turning to the bullish side. Potential higher targets are the $68,000 and $68,500 levels. For a bearish option, the Bitcoin price must break the 200 moving average EMA support. After that, we continue on the bearish side, making a new low. Potential lower targets are the $67,000 and $66,500 levels.

Ethereum chart analysis

Yesterday, October 24, the price of Ethereum had a new attempt to recover but again encountered the same resistance at the $2650 level. We started the retreat from there again last night, which continued on Tuesday, October 25. Ethereum formed a daily low at the $2461 level and came significantly closer to the weekly low of $2450. Now, we are monitoring how the price will behave in this zone because we could easily see a continuation to the bearish side and the formation of a new weekly low.

Potential lower targets are $2425 and $2400 levels. For a bullish option, we expect Ethereum to stabilize first and stop the current bearish momentum. After that, we expect the start of a bullish consolidation and a return above the $2500 level. Such a move would be a good indication of a return to the bullish side. Potential higher targets are $2525 and $2550 levels.

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EURUSD and GBPUSD: The second part of the week brings recovery

On Wednesday, October 23, EURUSD retreated to 1.07612 to a new weekly low
On Wednesday evening, 23 October, GBPUSD fell to a weekly low of 1.29074

EURUSD chart analysis

On Wednesday, October 23, EURUSD retreated to 1.07612 to a new weekly low. The previous time the pair was at that level was in early July. After getting new support, EURUSD started a bullish consolidation, and on Thursday, we returned above the 1.08000 level. During this morning’s Asian session, the pair came under pressure again, returning from 1.08280 to 1.08140. After that, the euro gains strength in the EU session and jumps to 1.08375 levels.

The return to the bullish side still looks very weak, as we are back below the daily open level. We need a stronger impulse to 1.08400 to have room for consolidation above the daily open price. Potential higher targets are 1.08500 and 1.08600 levels. For a bearish option, EURUSD would first have to break the previous support level of 1.08140. With that step, we form a new daily low, and the pressure on the pair to continue with the retreat increases. Potential lower targets are 1.08100 and 1.08000 levels.

GBPUSD chart analysis

On Wednesday evening, 23 October, GBPUSD fell to a weekly low of 1.29074. The next day, on Thursday, after a short consolidation, the pair started a bullish recovery to 1.29880 levels. During this morning’s Asian session, the pound made a slight bearish move to the 1.29600 support level. We have additional support in the EMA 50 moving average at this level. Now we see a new bullish consolidation from there and expect a break of yesterday’s high.

Potential higher targets are 1.30000 and 1.30200 levels. At 1.30000, we will have additional resistance in the EMA 200 moving average. For a bearish option, GBPUSD needs to pull back to the 1.29600 support level. This time, we are looking for a break below and the formation of a new daily low. This confirms the strengthening of the bearish momentum, and the pair will have to continue its retreat. Potential lower targets are 1.29400 and 1.29200 levels.

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Gold and silver: Metal prices fall to new weekly lows

During this morning’s Asian trading session, the price of gold was in a bearish consolidation with the $2736 level
The price of silver is in a bearish trend for the third day, with the formation of a weekly low at the $33.10 level

Gold chart analysis

During this morning’s Asian trading session, the price of gold was in a bearish consolidation with the $2736 level. In the EU session, pressure on the price continues and we see the formation of a daily low at the $2719 level. With this step, we fell below the weekly open level, which could be a problem for a potential continuation to the bullish side. Now, gold is under pressure to continue its retreat and look for new support.

Potential lower targets are $2710 and $2700 levels. The EMA 200 moving average in the $2710 zone could slow or stop the gold price decline. For a bullish option, the price must first return above $2720 and the weekly open level. After we stabilize there again, we have an opportunity to initiate a bullish consolidation. Potential higher targets are the $2730 and $2740 levels.

Silver chart analysis

The price of silver is in a bearish trend for the third day, with the formation of a weekly low at the $33.10 level. During this morning’s Asian trading session, the price intensified bearish consolidation, leading to a break below $33.50. We are getting closer to breaking below the $33.00 level. The price has broken below the EMA 200 moving average, which will only strengthen the bearish momentum to continue to the next lower support.

Potential lower targets are $32.80 and $32.60 levels. For a bullish option, silver must move back above $33.20 and the EMA 200 moving average. Then, we need to stabilize there before we start the recovery. After that, the next resistance is in the $33.60-$33.70 zone. We will test the weekly open level there, and we hope to break above and return to the bullish side. Potential higher targets are $33.80 and $34.00 levels.

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S&P 500 and Nasdaq: Prices and Targets for Friday

Wednesday, October 23rd, was very inactive for the S&P 500 as we saw a drop to 5761.8
The Nasdaq was under a lot of pressure on Wednesday, October 23, and we saw a drop to 19936.3

S&P 500 chart analysis

Wednesday, October 23rd, was very inactive for the S&P 500 as we saw a drop to 5761.8. The previous support at the 5840.0 level did not hold, and a pullback followed. After the new low, the index managed to start a bullish consolidation up to the 5820.0 level. There, we encountered the EMA 200 moving average, which did not allow us to continue on the bullish side, but a new pullback was initiated.

This time, we get support at the 2785.0 level. During this morning’s Asian session, the S&P 500 managed to stabilize and jump over the EMA 200 moving average. It would be nice to stay up there until the end of this week’s session to put us in a good position for next week. Potential higher targets are 5840.0 and 5850.0 levels. For a bearish option, we need a negative consolidation of the S&P 500 below the 5810.0 daily open level. With that step, we strengthen the bearish momentum, and it remains for the index to continue its retreat. Potential lower targets are 5800.0 and 5790.0 levels.

Nasdaq chart analysis

The Nasdaq was under a lot of pressure on Wednesday, October 23, and we saw a drop to 19936.3. After the formation of a new low, the index begins to recover and returns above the 20000.0 level. During this morning’s Asian session we get new support at 20250.0. In that zone, the EMA 200 creates additional support, and the Nasdaq continues up to the 20300.0 level. We are a little short of reaching the weekly open level and moving to the positive side.

Potential higher targets are 20400.0 and 20450.0 levels. For a bearish option, it is necessary for the Nasdaq to pull back below the daily open level. This moves us below the EMA 200 moving average. After that, we expect the rise of bearish momentum and the formation of a new daily low. Potential lower targets are 20200.0 and 20150.0 levels.

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Top Gainers

Symbol
Company Name
Price
Change
Change %

PCT
PureCycle Technologies, Inc. 
14.30
+3.26
+29.59%

QS
QuantumSpace Corporation 
6.50
1.32
+25.48%

TSLA
Tesla, Inc.
260.48
+46.83
+21.92%

VKTX
Viking Therapeutics, Inc.
73.22
+12.83
+21.25%

CLS
Celestica Inc. 
67.94
+10.47
+17.67%

Top Losers

Symbol
Company Name
Price
Change
Change %

ICLR
ICON Public Limited Company 
221.73
-59.03
-21.03%

WEX
WEX Inc. 
181.13
-31.91
-14.98%

NEM
Newmont Corporation 
49.25
-8.39
-14.70%

PI
Impinj, Inc.
192.21
-30.25
-13.60%

FCN 
FTI Consulting, Inc. 
89.73
-10.20
-10.21%

In the first few hours of the trading session, the market showed a bullish momentum but failed to sustain at a higher level and came down and made a sideways closing. 

NYSE Composite: +138.83 (+0.76%)
Dow Jones: -140.59 (-0.33%)
S&P 500: +12.44 (+0.21%)

#1 Gainer: PCT Stock

PureCycle Technologies Inc. (NASDAQ: PCT) stock turned out to be the top gainer after delivering +29.59% returns on Thursday (24-Oct-2024) trading session. Traders made strong positions after buying 16,675 call options, which is 116% more than the usual 7,735 call options.

Traders and investors are keeping high hopes for upcoming Q3 2024 results as the company announces its third quarter 2024 corporate update conference call, which has been scheduled for 7th November 2024. 

The conference includes live Q&A sessions for analysts followed by investor questions, which have been submitted in advance to investorsquestion@purecycle.com.

PCT/USD 15-Minute Chart

Before concluding on to Q3 2024 results, let’s look into the technical aspect of the stock. On the 24th Oct 2024 trading session, the PCT stock gave +29.59% returns and took rejection exactly from $14.65 on multiple time frames like 5min, 15min, 1hr, 1 day and 1 week, indicating the strength of the resistance. 

Looking at stock on a weekly timeframe, we can see that the price took a reversal from the resistance zone, and RSI indicates the same over-bought scenario. A buying opportunity will trigger once the $15.98 level breaks, and prices come to retest the level. We can plan an entry on healthy buying candles with targets of $23.35 and a stop-loss of $12.

#1 Loser: ICLR Stock

ICON Public Limited Company (NASDAQ: ICLR) stock faced a major decline of 21.03% as the company was unable to achieve Q3 2024 returns by 5.12%. Zack’s consensus Estimated $3.85 per share, but the company was able to reach $3.35 per share. Compared to quarter age, the present earning comes to -12.99%. 

Consistent growth in the company and its price just added about 0.2% compared to gains of the S&P 500, which is 22.7%

Though there is no major decline in earnings as of present, earning comes to $2.03 billion compared to $2.06 billion a year ago. However not able to achieve the expected returns, the company faced major selling on 24th Oct 2024. 

ICLR/USD 15-Minute Chart

Fundamentally, the stock is still not weak. Looking at technical aspects on a weekly time frame, the company has been on an uptrend for a long time. Price broke the support trendline on 9th September, and from then, the price was moving sideways, indicating weak buyers. 

On 24th Oct 2024, major selling was triggered, bringing the price to its support level of $221.73. Currently, looking at the price-only selling scenario will trigger two situations. 

If the price continues to fall and crosses the 221.73 level, then wait for the level to retest and then make an entry with the target of $185, as RSI is in the oversold situation, and the price can come for SL hunting. 
If the price reverses from the 221.73 level, as the RSI will cool off, then wait for the price to break the $221.73 level and if, during that time RSI is between 40-30, then plan an entry with the target of $185. 

The post Top Stock Gainers And Losers: PCT +29.59%, ICLR -21.03% appeared first on FinanceBrokerage.

Sanofi stock gained momentum as the world’s third-largest pharmaceutical company announced its stunning performance in the third quarter of 2022 through revenue from sales area and earnings that were around a given level of change. The company was able to achieve these results due to the fast-growing sales of its vaccines in the initial months and the constant functioning of its product lines.

The French pharmaceutical company posted a 14.4% rise in business operating income to €4.6 billion, which was more than the €4 billion expected by analysts. Vaccine sales were particularly strong, increasing to €3.8 billion, an increase of 25.5%, which went far beyond the previously stated €3.2 billion. Initial flu vaccine distribution and the new RSV treatment for infants, Beyfortus, were the main drivers of the impressive quarterly result.

Sanofi Boosts Dupixent Sales by 23.8%

The company registered a 23.8% increase in the sale of its leading treatment drug, Dupixent, which is anti-inflammatory. Dupixent earned €3.48 billion, slightly higher than analyst expectations and offering even more benefits as it has very recently been given the green light for a new indication in lung disease.

Sanofi is close to the sale of the majority part of its consumer health business Opella, in a sensational strategic move. The contender of the shares is US based investor Clayton Dubilier & Rice. As the cost of the shares is about €16 billion, this sale will allow the company to invest in advanced clinical research for drugs, supporting the CEO’s plan to specialize in the so-called next-gen drugs.

Market reactions have been positive. JP Morgan experts are anticipating a 3-5% increase in Sanofi shares. Sanofi is expected to record a small gain in 2024 with the expansion of its core business. In response to this, there will be the most substantial growth in 2025 as a result of its cutting-edge portfolio.

Sanofi Stock Chart Analysis

SNU/USD 15-Minute Chart

During Sanofi’s recent stock performance review, it’s pretty obvious that these shares have been under pressure over the past few years. The stock reached the highest point of $55.04 before plunging downward, which became even more pronounced in the later sessions. The price currently lies at $52.07, which shows a 0.21% deflection from the previous value on the day. This was the biggest drop in the stock’s price that started a little before October 18, with the stock being the highest at $55.

The biggest change was seen on October 24, when the stock reached its lowest level of only $50.01, before making a little progress. The price has indeed gone up a bit, but we are still watching it fight to get higher. This deep selloff may be due to wider market concerns or the investors’ response to Sanofi’s cost-cutting plans, including the decision to spin off its consumer health division.

As the shares of Sanofi fluctuate just above the $50 mark, it is important to keep in mind that this psychological level is a major one. If Sanofi’s shares head further south beyond this psychological level, it may encourage further selling. However, for the rest of us preferring to see the bigger picture, this could also be a time to buy at a lower price, especially since Sanofi seems to be concentrating more on vaccines and speciality drugs.

In general, we are at a stage of inconsistency in Sanofi stock, as there has been a test of the critical support levels. This could either lead to additional losses or potential recovery, depending on the sentiment of the market.

The post Sanofi Stock Report: 14.4% Income Growth Amid Restructuring appeared first on FinanceBrokerage.

Tesla stock (NASDAQ: TSLA) went up by almost 18% on Thursday after the release of a constructive third-quarter financial report, which met financial analysts’ predictions. The great leap in the company’s margin from 16.8%, expected to be 16.8%, to 19.8%, was the prime reason for this rally. This was their biggest intraday rally since April, as well as the second largest since March 2021.

Traders were impressed with Tesla’s better guidance, which projected 20% to 30% more deliveries by 2025. The strong income and margin recovery confirmed the value of the core car business and consequently relieved the difficulties they had with slow deliveries and weakening demand in China earlier this year.

The positive projections for deliveries also impacted positively on investor confidence. However, some analysts remain cautious despite a strong quarter.

Tesla has not yet properly answered questions about its Full Self-Driving technology, the timeline for new model releases, or the production of Optimus, its ambitious humanoid robot project. Such factors might lead to future performance being lower, although at present the steady financials of Tesla have given a boost to investors’ hopes.

Tesla Stock Chart Analysis

TSLA/USD 15-Minute Chart

While Tesla’s (TSLA) performance is being studied, a graph demonstrates a rally where the stock rose from as low as $212.11 on October 23 to as high as $262.10 on October 25. This almost 24% bounce in a few days indicates that investors are optimistic about Tesla, which is doing better than expected in Q3.

The stock experienced a fast increase after Tesla said their gross margin was at 19.8%, surpassing the expected 16.8%, which stimulated a rekindling of confidence in the stock. Because of that, Tesla broke through the levels of resistance at $250 and headed higher. Right now, we see the stock without any drastic changes at approximately $260.54, just short of its intraday high of $262.10.

Tesla (TSLA) Eyes Further Gains

In the upcoming time, we will look out for whether Tesla could make further gains or if it will struggle around the $262 level. In case it keeps going upward, we can expect a $270 level making resistance. However, it’s really important to be prudent, as questions about Tesla’s Full Self-Driving technology and new product launches remain a concern.

For the present time, the market’s positive reaction to Tesla’s strong earnings and margin recovery has provided a boost and we’ll be keeping an eye on any pullbacks or consolidations after this sharp rise. As always, we have information that cannot be overlooked, and the situation calls for extreme caution.

If you are keeping an eye on Tesla (TSLA), then pay attention to the $262 resistance level. A rise above may signal a continuation of the momentum and with the price down, this might be a new buying point. Be quick to note changes in order to decide if the time is right for you!

The post Tesla (TSLA) Stocks Up 18% After Strong Earnings appeared first on FinanceBrokerage.

Netflix Stock Soars on Ad Success & Password Rules

Netflix stock marks a record after making an all-time high and closing at the $772 mark on Monday’s session. With rally continuous from the last two trading sessions, delivering returns of nearly 12%.

Quarter-on-quarter stability and growth in earnings, Netflix took over investor sentiments. With earnings of $937.8M in Q4 2023, $2.33B in Q1 2024, $2.15B in Q2 2024, and $2.36B in Q3 2024, stock proved to be result and growth driven. EPS stays strong with a +4.18 estimation, forecasting the profitability and potential returns. Proving the right use of investor’s money by the company.  

Netflix: Strategic Moves

With a highly competitive atmosphere in the over-the-top (OTT) industry, strategic moves became the game changer. Introducing games and hosting live events supported the company in diversifying and presenting trending things to its audience. 

The introduction of new seasons for the top-viewed shows helped them retain the audience and fulfil their needs. This eventually helped the company increase its engagement level by up to two hours of viewing per member per day. To put the nail on it, there is significant growth in the advertising business, where ads revenue is expected to double year on year in 2025

Netflix Stock: Buy Now For The Big Target Ahead!

NFLX/USD 15-Minute Chart

On a weekly time frame, Netflix Inc. (NASDAQ: NFLX) looks very bullish. However, the first target of round level $800 is not too far away, but it doesn’t fit the risk-to-reward condition. Analysing deep into the technical aspect, historically price is supported on 20 EMA and trend line as shown in the image. The perfect buying opportunity will trigger once the cost comes to take support on either EMA or Trend Line with either hammer candle, marubozu candle, or a strong buyer candle, which will favour the perfect risk-to-reward ratio on investment. 

However, people who are already holding the stock from a lower level can peacefully enjoy the rally till the $800 mark. Breaking the support trendline can trigger a trend change in the stock, eventually creating a new decision area for the investors. 

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