Apple and Facebook do not disappoint on the markets, but Tesla surprises with falls

January 28, 2021 14:00

Apple and Facebook had a positive day on the markets yesterday, while Tesla disappointed with its annual profits for the first time in its history, coming in below market consensus data.

Apple rose $1.68 per share compared to $1.41 expected by analysts, reaching 1.11 trillion dollars in revenue, surpassing the barrier of 1.1 trillion for the first time. The Cupertino-based company has a quarterly net income of $28.76 billion, over to the expected $22.24 billion.

These results are mainly due to the positive sales data for all its products, particularly those of the new iPhone in all markets, highlighting the Chinese market.

Despite these results, during today's pre-opening, Apple is trading low, although this can be explained as part of the correction that the markets have been experiencing in recent weeks and the growing uncertainty caused by the low rate of vaccination throughout the world.

Technically speaking, the upward trend in Apple is clear, which has led it to mark new highs after new highs, reaching historic levels, while currently trading slightly overbought as we can see in its stochastic indicator and very far from its support levels (moving averages, trend line and previous resistance level), so in principle, these setbacks should not scare us in the long term as long as it maintains its main support levels.

Source: Admiral Markets MetaTrader 5. Apple daily chart. Data range: from October 3, 2019 to January 28, 2021. Prepared on January 28, 2021 at 11:50 am CET. Keep in mind that past returns do not guarantee future returns.

Price evolution of the last 5 years:

  • 2020: 80.75%
  • 2019: 86.13%
  • 2018: -6.78%
  • 2017: 46.15%
  • 2016: 9.99%

Facebook also had strong results yesterday, with a profit increase of 58%, reaching $24.1 billion dollars, with a profit per share of $3.88 over the $3.16 market consensus.

As was in the case of Apple, the results were positive, but yesterday it closed in the negative and its pre-opening is also listed in red.

Technically speaking, the long-term trend on Facebook remains bullish after bouncing off its important 200-session average, after breaking down the triangle formation that began after hitting all-time highs, prompting its price to test the band again. It goes down from the triangle and then falls hard. This may indicate that short-term corrections may continue to continue, which could once again see it face its current support level.

The loss of this level could put this company in trouble, since it has a practically free way to the next level at around $224 per share.

Source: Admiral Markets MetaTrader 5. Facebook daily chart. Data range: from October 7, 2019 to January 28, 2021. Prepared on January 28, 2021 at 12:00 CET. Keep in mind that past returns do not guarantee future returns.

Price evolution of the last 5 years:

  • 2020: 33.09%
  • 2019: 56.57%
  • 2018: -25.71%
  • 2017: 53.38%
  • 2016: 9.93%

Tesla results, on the other hand, we could observe that their earnings per share was $0.8 compared to the $1.04 market consensus, with income also coming in slightly lower. This is also the first time in its history that Tesla closed the year with profit, although at the moment, it’s not as much as expected.

As in the last two previous cases, today's pre-opening is trading negative with decreases at this time of 6%.

Technically speaking, the uptrend in Tesla has been very strong in recent years, currently trading far from its main support levels (moving averages) and at overbought levels, so we cannot rule out that the pullbacks could prolong some sessions plus.

Source: Admiral Markets MetaTrader 5. Tesla daily chart. Data range: from October 2, 2019 to January 28, 2021. Prepared on January 28, 2021 at 12:15 CET. Keep in mind that past returns do not guarantee future returns.

Price evolution of the last 5 years:

  • 2020: 743.40%
  • 2019: 25.71%
  • 2018: 6.89%
  • 2017: 45.69%
  • 2016: -10.96%

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