Connect with us

Energy & Critical Metals

Copper Price Prediction: How Long Will Range-Bound Trading Persist?

Copper price has remained within a two-month range. Earlier in the week, it hit a one-month high. Underlying factors On the one hand, copper price is finding…

Published

on

This article was originally published by Invezz - Commodities
copper price

Copper price has remained within a two-month range. Earlier in the week, it hit a one-month high.

Underlying factors

On the one hand, copper price is finding support in improving risk appetite. Investors have continued to overlook the Omicron variant while focusing on the global recovery trade. For instance, earlier on Thursday, Dow Jones hit a new all-time high at $36,684. The improved sentiment has boosted riskier assets like equities and commodities.

Nonetheless, a surge in the US dollar has curbed copper price’s gains. On Thursday, the dollar index edged higher as a reaction to the decline in weekly US jobless claims. For the week that ended on 25th December, unemployment insurance filings were at 198,000. The number was lower than the forecasted 205,000 and was close to its lowest level in over 50 years. The figures are an indication that the spread of the Omicron variant has not impacted employment.

In the new year, clean energy will be a key driver for copper price. The ongoing supply chain challenges will also support the red metal in the coming months. The US dollar movements will also an influential factor.

Copper price prediction

Copper price has been in the red for three consecutive sessions. At the beginning of the week, the red metal rose to the psychologically crucial level of 4.50 before pulling back. At the time of writing, it was down by 0.57% at 4.38.

On a daily chart, it is trading above the 25 and 50-day exponential moving averages. It is also above the long-term 200-day EMA.

In the short term, I expect copper price to trade within the horizontal channel whose formation began in late October. From this perspective, 4.50 will likely remain a crucial resistance zone for the metal. Subsequently, it may be range-bound with the point of convergence for the 25 and 50-day EMA, which is at 4.35, being a key support level to look out for.

Below the aforementioned support zone, it will probably drop slightly below the 200-day EMA at 4.19 before bouncing back. On the flip side, a move above the resistance level at 4.50 may push copper price to 4.60 before returning to the two-month-long range.

copper price

The post Copper price prediction: range-bound trading to persist appeared first on Invezz.




Author: Faith Maina

Energy & Critical Metals

DATS Stock Alert: The Latest Acquisition News Sending DatChat Soaring Today

It’s been a busy week for DatChat (NASDAQ:DATS), and it isn’t even over. Yesterday, the alternative social media platform announced it was venturing…

It’s been a busy week for DatChat (NASDAQ:DATS), and it isn’t even over. Yesterday, the alternative social media platform announced it was venturing into the non-fungible token (NFT) security space. Today, it took this mission a step further. DatChat has signed a letter of intent to acquire Avila Security Corporation. This move will mean significantly expanding its holdings in the blockchain and user data security spaces. DATS stock didn’t react well to the news yesterday, but the tides have shifted. Both companies have cause to celebrate today.

a smartphone lies on a table as cartoon representations of social media, email and text notifications float overhead. social media stocksSource: Shutterstock

What’s Happening With DATS Stock

Yesterday began with the news of DatChat’s Web 3.0 platform initiative. While this sounded like good news, DATS stock did not initially react to it, slipping into the red. Today’s news has clued Wall Street into the fact that DatChat is making big plans to gain share of a rapidly expanding market. As of this writing, DATS stock is up 23% on the day. It shot up early and hasn’t slipped.

This morning’s gains have pushed DATS into the green by more than 40% for the week and 23% for the month. Investors saw the stock spend the final month of 2021 in decline, falling by as much as 22%. This type of growth should be reassuring.

While the deal is not yet finalized, it includes “$1 million in cash and the greater of 739,650 shares of restricted common stock.”

Why It Matters

These back-to-back announcements make one thing undeniably clear — DatChat is serious about blockchain security. The company made a name for itself by offering secure social media and messaging options. Now it has recognized that its technology can be applied to a new market, one that is ripe with potential. According to a statement released two days ago, the company is focused on building a “decentralized advertising network for Web 3.0 and Metaverse applications.”

The successful acquisition of Avila will expand DatChat’s intellectual property assets to include both blockchain-based digital rights management and object-sharing technology. The move also makes sense for the company’s communications aspect. Avila’s assets also include encrypted WebRTC real-time video and audio-streaming communications. In acquiring this little-known company, DatChat is strengthening both the old and new components of its business.

The markets for enhanced digital security in both communications and digital asset storage is booming. NFT sales are rising, but as they do, so do theft and fraud within the space. Additionally, Web 3.0 and metaverse applications are only going to help drive stock prices up as both markets heat up in 2022. InvestorPlace’s Luke Lango predicts that in 2022, metaverse stocks will see the type of growth that the electric vehicle (EV) sector did in 2021. If DatChat continues this type of progress, it could be among the metaverse stocks that are destined for growth in the year ahead.

What It Means

When a company announces two major deals in the same space within the same week, investors should pay attention. The second deal isn’t finalized, but DatChat has proven it means business when it comes to these digital expansions. It sees multiple red-hot markets, and it is strategically planning ways to secure shares of both.

NFT security, encrypted social media and metaverse technology are going to be three of the hottest sectors in 2022. If you’re bullish on any, or all three, DATS stock should be on your radar.

On the publication date, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

The post DATS Stock Alert: The Latest Acquisition News Sending DatChat Soaring Today appeared first on InvestorPlace.

electric vehicle

Author: Samuel O'Brient

Continue Reading

Energy & Critical Metals

Rivian Stock Price Predictions: Where Will RIVN Go After Hitting New Lows?

So far, 2022 continues to be a difficult year for Rivian (NASDAQ:RIVN). The electric vehicle (EV) producer recently hit an all-time low of $67.40, with…

So far, 2022 continues to be a difficult year for Rivian (NASDAQ:RIVN). The electric vehicle (EV) producer recently hit an all-time low of $67.40, with prices currently hovering slightly above that level. It seems like reasonable valuations are finally catching up to RIVN stock. As a result, investors are seeking out Rivian price predictions for 2022.

A Rivian (RIVN) sign out front of an Illinois manufacturing plant.Source: James Yarbrough / Shutterstock.com

After debuting on the Nasdaq exchange last year as the largest initial public offering (IPO) of 2021, shares of RIVN stock climbed to as high as $179. Ford (NYSE:F) was an early backer of Rivian, investing $500 million into the EV maker in 2019. In addition, Ford invested an additional $902 million during Q1 of last year. Now, these investments are paying off. The legacy automaker reported that it had earned a staggering $8.2 billion from its Rivian stake during Q4 alone.

Ford’s investment in Rivian is interesting because the two companies compete on the truck front. Ford’s flagship EV truck is the F-150 Lightning, while Rivian boasts the R1T. The competition was heightened after Ford announced last year that it would not be moving forward with plans to build an EV on Rivian’s Skateboard platform. This announcement came shortly after Ford revealed that it would be doubling its planned EV production to 600,000 vehicles per year by 2024.

Is Ford coming after Rivian’s market share after helping fund the EV startup? It certainly seems like it. With the heightened competition in mind, let’s take a look at Rivian price predictions.

RIVN Price Predictions: What’s Next for This EV Producer?

  • Bank of America has a price target of $170. Analyst John Murphy believes that Rivian is one of the most legitimate EV competitors with a business model that addresses all stages of the vehicle lifecycle. Murphy also noted that Rivian ranks “fairly well” in his AutoTech entrant analysis, meeting six of the 10 criteria.
  • Tigress Financial Partners has a price target of $147. Analyst Ivan Feinseth believes that Rivian is well-positioned to take advantage of the $9 trillion global automotive market. Furthermore, Feinseth noted that Rivian’s modular design platform provides an opportunity for the company to expand its product line and create reoccurring revenue streams.
  • Deutsche Bank has a price target of $130. Analyst Emmanuel Rosner is impressed with both Rivian’s hardware and software. On software, Rosner views “Rivian’s plan to generate lifetime recurring high-margin revenue from selling services to its installed base of vehicles as one of the most credible among automakers.” On hardware, Rosner believes that Rivian’s “flexible EV architecture supports a rapid cadence of vehicle launches” that will allow the EV maker to achieve economies of scale.
  • Finally, Rivian has an average price target of $134.36 among 14 firms with coverage of stock.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

The post Rivian Stock Price Predictions: Where Will RIVN Go After Hitting New Lows? appeared first on InvestorPlace.

electric vehicle

Author: Eddie Pan

Continue Reading

Energy & Critical Metals

Former SpaceX engineers raise $US50m to build automated electric rail cars

Parallel was founded by three engineers who formerly worked at Elon Musk’s cutting-edge space transportation company, SpaceX.
… Read More
The post…

Parallel Systems has “come out of stealth mode” after raising $49.55 million in Series A funds to build autonomous battery-electric rail vehicles that move freight.

The round was led by Anthos Capital, and includes investments from deep tech funds Congruent Ventures, Riot Ventures, Embark Ventures, and others.

Parallel was founded by three engineers who formerly worked at Elon Musk’s cutting-edge space transportation company, SpaceX.

Parallel CEO Matt Soule was previously SpaceX head of avionics for 13 years, where he led a department of 300 people in the design and testing of space electronics.

John Howard, vice president of Hardware, introduced lithium-ion to human spaceflight as head of batteries at SpaceX. Ben Stabler, vice president of Software, was head of avionics software and lead engineer for motorised actuator electronics at SpaceX over five years.

Soule says the company’s competitive edge is “autonomous battery-electric rail vehicles, which are designed to move freight cleaner, faster, safer and more cost effectively than traditional trains or trucks”.

Parallel’s prototype vehicle loaded with a shipping container.

 

How does it work?

The company’s autonomous battery-electric rail vehicles load and transport standard shipping containers as a single or double stacked load.

The railcars, which are individually powered, can join to form ‘platoons’ or split off to multiple destinations while en-route.

That makes them a lot more flexible than traditional trains.

Parallel ‘platoon’ architecture.

“Unlike traditional freight trains, Parallel’s platoons do not need to accumulate large quantities of freight to make service economical, which enables more responsive service and a wider range of routes,” the company says.

“This dramatically reduces the waiting times associated with loading trains that are miles long. The system can support service at a range of distances, from across a city to across the country.”

These cars have a range of between 800 and 1280 kilometres – using 25% of the energy of a semi-truck – with a payload capacity up to 5.8 tonnes each.

Charging time is less than an hour, Parallel says.

 

Alleviating the shipping crisis

To make freight deliveries economical, today’s railroads typically focus on moving shipping containers distances more than 800km, Parallel says.

Much of the remainder is done by trucks, but a shortage of truck drivers is currently squeezing supply chains globally.

Parallel’s flexible rail system could alleviate pressure on the trucking industry as it faces overwhelming demand and a driver shortage of 80,000 drivers in the US alone.

“Our business model is to give railroads the tools to convert some of the $700 billion US trucking industry to rail,” Soule says.

“Today, trucks are responsible for moving most of the nation’s freight by miles.

“Moving a portion of that freight volume to autonomous battery-electric rail will help alleviate highway congestion, improve road safety, reduce road wear and tear, provide shippers with more cost-effective transportation, and provide environmental health and safety benefits by reducing GHG trucking emissions.”

The post Former SpaceX engineers raise $US50m to build automated electric rail cars appeared first on Stockhead.

Author: Reuben Adams

Continue Reading

Trending