Microsoft, Lucid, Exxon, Bitcoin And Analyst Foresees Dogecoin Spike To 14 Cents If Support Level Holds: Benzinga Bulls And Bear

16 December 2023

in DOGE

Reading Time: 5 mins read

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Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.

On Friday, the Dow Jones Industrial Average notched a new intraday high, and the Nasdaq-100 achieved a record close, marking the seventh consecutive winning week for all three major stock indexes.

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The S&P 500 is approaching its own record high, now less than 2% away from the peak set in January 2022, experiencing its longest weekly winning streak since 2017.

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In its final meeting of the year, the Federal Reserve held interest rates steady within the 5.25%-5.5% range, while indicating a possible easing of borrowing costs in 2024. Reacting to Fed Chair Jerome Powell‘s hint that interest rates are nearing their peak and discussions that rate cuts have begun, investors showed renewed enthusiasm, driving a surge in both stock and bond markets.

Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.

The Bulls

“Best Trader In Congress? Wagered $20M In Bets On A Major Tech Company And He Loves Options,” by Chris Katje, details Rep. Josh Gottheimer (D-NJ) engaging in several large purchases and sales of options of Microsoft Corporation (NASDAQ:MSFT), amid concerns over conflicts of interest given his past role at Microsoft and his current Congressional positions.

“Lucid’s Saudi Success: 800 Electric Vehicles Roll Off Production Line,” by Anan Ashraf, details how Lucid Group Inc. (NASDAQ:LCID) has assembled about 800 electric vehicles in Saudi Arabia, focusing on training over 200 local employees under a purchase agreement with the Saudi government to sell up to 100,000 vehicles over 10 years.

“Dogecoin Has Successfully Cleared All Major Resistance Levels,’ Says Analyst, Poised To Reach $0.14 Levels If This Happens,” by Mehab Qureshi, details analyst Ali Martinez’s analysis that Dogecoin, having cleared major resistance levels and with strong support at $0.095, is poised for a potential surge to $0.14, contingent on maintaining this support level.

For additional bullish calls of the past week, check out the following:

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The Bears

“SEC Chair Gary Gensler Provides Update On Bitcoin ETFs, Cautions Investors On Crypto: ‘There Is A Lot Of Noncompliance’,” by Erica Kollmann, covers SEC Chair Gary Gensler‘s recent remarks on the ongoing review of Bitcoin ETF applications and his warning to investors about widespread noncompliance in the crypto sector, amid growing investor interest in Bitcoin (CRYPTO: BTC).

“Crude Conundrum: U.S. Oil Production Hits Record Levels, But Energy Stocks Aren’t Pumping,” by Natan Ponieman, highlights the paradox of soaring U.S. oil production not boosting energy stocks like Exxon Mobil Corp (NYSE:XOM), ConocoPhillips (NYSE:COP), and Devon Energy Corp (NYSE:DVN), despite 2023 setting production records.

“JD.com’s Founder Sounds The Alarm: Can New Strategies Revive The E-Commerce Giant?” by Anusuya Lahiri, discusses Richard Liu, founder of JD.Com, Inc (NASDAQ:JD), acknowledging the need for significant changes in the company to stay competitive, as it faces challenges from newer rivals and a significant drop in its stock value.

For more bearish takes, be sure to see these posts:

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