Tag Archives: Oversold

Tesla’s beat-up stock (TSLA) price may have one more move left in it to the downside before buyers could finally emerge with a little gusto. At least that’s the message from Tesla’s stock chart. “Tesla is now officially oversold,” said market technician and Fundstrat Managing Director Mark Newton on Yahoo Finance Live (video above). “I’m looking right down under $100 right before Tesla’s earnings happen right towards the end of the month, and that’s when a lot of my own cycles start to show… Source link

After 7 weeks of straight losses, the markets went into the long weekend on positive note: their best single week since 2020. The S&P 500 added more than 6% wiping away its losses from the month of May. The sudden drop in value, combined with the even more sudden bullish shift, even if it is temporary, has brought out the discount shoppers of the equity world. ‘Buy the dip’ is a real thing, and frequently successful path toward long-term portfolio gains, and the current environment is… Source link

We all know how the stock market started out 2022 with a sudden reversal of last year’s bull run. By the end of February, it was clear that stocks had entered correction territory; the sell-off was broad-based, across all segments of the market. But is the sell-off over? There are indications that may be the case. Since bottoming out on March 14, the market has staged a strong rebound, and year-to-date is no longer in correction territory. The S&P 500 is up 10% in that period, and the… Source link

Reuters U.S. new home sales hit 14-month low amid supply constraints Sales of new U.S. single-family homes tumbled to a 14-month low in June and sales in the prior month were weaker than initially estimated, the latest signs that expensive lumber and shortages of other building materials were hurting the housing market. The third straight monthly decline in sales reported by the Commerce Department on Monday followed news last week that permits for future homebuilding dropped to a nine-month… Source link

Investors have been selling bitcoin for the past week, according to on-chain data. Meanwhile, ether’s daily trading volumes have consistently outpaced BTC’s.  Bitcoin (BTC) trading around $35,987 as of 21:00 UTC (4 p.m. ET). In the red 2.5% over the previous 24 hours.Bitcoin’s 24-hour range: $35,754-$37,833 (CoinDesk 20)Ether (ETH) trading around $2,549 as of 21:00 UTC (4 p.m. ET). Losing 3.2% over the previous 24 hours.Ether’s 24-hour range: $2,532-$2,734 (CoinDesk 20) Bearish… Source link