Ford stock is benefitting from its new agreement with Tesla.Ford customers will be able to use Tesla Superchargers beginning in 2024.In 2025 new Ford EVs will come equipped with Tesla charging design.F stock is stuck in a descending wedge with a resistance target of $14.50. Ford (F) stock has advanced about 2.5% early Friday following CEO Chris Farley’s announcement that Ford owners will be able to charge their EVs at Tesla Superchargers beginning in early 2024. The announcement was made via a Twitter Spaces talk between Tesla (TSLA) CEO Elon Musk and Farley late Thursday.NASDAQ 100 futures have gained 0.3% in Friday’s premarket as Dow and S&P 500 futures are ahead slightly less than 0.2%. Ford stock news: Tesla, Ford first automakers to make charger sharing agreementThe precise economics of the agreement have not been stated, but beginning in the first quarter of 2024 Ford EV owners will have access to double the current number of public chargers in the US and Canada. Ford already has 10,000 chargers available to its customers and plans to add another 1,800 by early 2024. Existing Ford EV owners will need to pay for a software update and a Tesla-designed adaptor at first, but beginning in 2025 Ford will switch from its current Combined Charging System (CCS) design to Tesla’s North American Charging Standard (NACS) connector. This is the first instance of an automaker in the US adopting Tesla’s charging technology.Tesla currently has more than 17,700 Superchargers but 12,000 of them will be made available to Ford owners. Ford customers will be able to pay using their existing Ford payment apps."The idea is that we don't want the Tesla supercharger network to be like a walled garden,” Musk told the Twitter Spaces audience of more than 18,000. “We want it to be something that is supportive of electrification and sustainable transport in general.”Musk has praised Ford’s electric F-150 Lightning pickup truck in the past, and Farley recently told an investor conference that Ford was open to collaboration with other automakers, especially on electric infrastructure. Ford stock forecastFord has been stuck in a sort of wedge for a while now. The green descending resistance zone has been pushing Ford stock’s highs mostly lower since last August. On the bottom side, the $11 price level has been acting as a floor over the same time frame.A close above $14.50 is the primary key to a sustained rally, but first bulls will need to break through the wide chasm of the green resistance window. Any break of the $11 support level could send F shares down to the $10 to $10.50 former resistance range that held shares down during 2019 and 2020.Ford daily stock chart

Ethereum price breaks back above $1,800 on Friday in the ASIA PAC session.ETH signals a bullish outlook with the RSI showing spare room to head higher.Should ETH bulls cross above the green ascending trendline, expect to see a jump to $1,875.Ethereum (ETH) price is working on its recovery after it dipped to a two-week low on Thursday. While Bitcoin price has failed to make a similar move and head back above $26,500, Ethereum is outpacing Bitcoin and has been able to push above $1,800. One hurdle is in the way now. The green ascending trendline must be overtaken again by bulls before heading to $1,875.Ethereum price ultimately on trajectory to $1,930 Ethereum price slid below the green supportive trendline and made a two-week low on Thursday with nearly every crypto or altcoin component printing red numbers. Meanwhile, this Friday a small turnaround is noticeable, but not for everyone. Bitcoin price is still in the red, unable to jump above its recovery point, while Ethereum price has already advanced beyond that point at $1,800 and is primed to head higher.ETH will need to cross back above the green ascending trendline in order to get that continuation going. Once that has happened, expect to see further follow-through higher that heads toward $1,875 near the 55-day Simple Moving Average (SMA). The Relative Strength Index (RSI) has ample room to do that and might even see a brief test at $1,930 in case bulls overshoot the profit target.ETH/USD 4H-chart Risk to the downside is coming from a possible rejection against that same ascending trendline. In case that holds as resistance, a firm rejection could send ETH back to $1,765 and flirt with a deeper loss. If that level breaks, a leg lower to $1,740 would print a new monthly low.

First 4,136 served as S&P 500 support, then 4,154 – stocks disregarded weak bond market posture, and half of the intraday progress in driving non-tech stocks lower, was lost. Yesterday was special in that the advance-decline line registered over -900 while the 500-strong index rose solidly.The explanation is of course tech AI chase, and NVDA exuberant guidance based – tech market breadth deteriorated as well, and the stock market leadership became even narrower than it had been in recent weeks and months.What‘s new, is the relief over the debt ceiling 2-year deal optimism – resolution in the making that still has to pass both chambers. Outshining inflation, tight lending, rising bankruptcies, deposits outflow and other signs of approaching recession such as no end in sight to declining LEIs. Those National Financial Conditions index the Chicago Fed publishes, would soon turn up, and see Treasury reversing position and withdrawing liquidity through replenishing its TGA at the Fed.Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren't enough) – combine with Telegram that always delivers my extra intraday calls (head off to Twitter to talk to me there), but getting the key daily analytics right into your mailbox is the bedrock.So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram - benefit and find out why I'm the most blocked market analyst and trader on Twitter. Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 4 of them.S&P 500 and Nasdaq Outlook4,154 `has become support again, breaking which requires further swing in Fed tightening bets (as if 11% odds of two rate hikes till Jul weren‘t enough). Jun 25bp are priced in, yet the disconnect to expecting cuts in autumn, and between rising yields and tech being frantically bid up (AI stealing ever greater share of the appreciation), persist – slight improvement in the former, with even narrower leadership disregarding retail, banking, industrials and materials in the latter.Needless to say, the times when tech was the sole outperformer while the rest lagged badly, which is true also about discretionaries, didn‘t end up well for the S&P 500.Bears aren‘t going to have a field day today – 4,136 is in no way on the table. A little to no upset core PCE figure would result in rally continuation, and overcoming 4,177 with 4,188 – there will be attempts to shake off disappointments even if that means more hawkish Fed as a consequence. Higher targets require cooperation from non-tech, and that won‘t come today too easily. Sell the news reaction to debt ceiling deal accompanied by dollar appreciation is on the table as money would flow away from the tech hiding place into inordinately beaten down long Treasuries (10-y yield is 3.83% already, and looking at rejection before getting much closer to 4%).Also, the week preceding Memorial Day is usually a down one, but stock market gains next week (i.e. the week containing Memorial Day) happen more often than not.That means if you‘re willing to jump in and out fast, you can take the upcoming intraday dip while benefiting from whatever upside next week brings – as a hedge to the medium-term bearish position.Credit MarketsPause in declining bonds seems at hand, and truly strong stock market bullish spirits would require high betas kicking in – last Wednesday‘s feat though won‘t be replicated I‘m afraid. I‘m looking for a modestly bullish turn up only.Thank you for having read today‘s free analysis, which is a small part of my site‘s daily premium Monica's Trading Signals covering all the markets you're used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica's Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates. While at my site, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves. Turn notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing – such as extra intraday opportunities. Thanks for all your support that makes this great ride possible!

In the rapidly evolving world of cryptocurrencies, understanding the intricacies and implications of this transformative technology is crucial. To shed light on this subject, we had the opportunity to speak with Eric Heinemann, the Head of Web3 for the Central European business at Chainalysis. With his expertise in supporting companies on their Web3 journey, Eric Heinemann provides valuable insights into the growing popularity of cryptocurrencies and the pivotal role that Chainalysis plays in promoting trust and transparency within the industry.   According to Heinemann, cryptocurrencies have been gaining immense popularity in recent years due to their ability to open up new markets and foster a fairer and more integrated global economy. However, to fully harness the potential of this technology, greater trust and transparency are necessary. This is where Chainalysis, the blockchain data platform, comes into play. By providing compliance and investigation tools, Chainalysis empowers banks, businesses, and governments to navigate the cryptocurrency landscape confidently, enabling the digital economy to thrive securely. Speaker: Eric Heinemann, Head of Web3 CEMEA, Chainalysis       Could you please introduce yourself? What do you do at Chainalysis? My name is Eric Heinemann and I'm the Head of Web3 for the Central European business at Chainalysis, where I'm supporting big and renowned companies on their Web3 journey.   Why are cryptocurrencies gaining popularity in recent years? Cryptocurrencies have already opened up new markets and made the global economy bigger, fairer, and more deeply integrated. We're only seeing the beginning of what this transformative technology has to offer. But cryptocurrency needs greater trust and transparency to realize its full potential. That's where Chainalysis comes in. We need to develop clearer regulations, establish standard audit practices, and implement powerful compliance controls for cryptocurrency to sustain its current growth and integrate into the global financial infrastructure. By helping make that vision a reality with our compliance and investigation tools, Chainalysis gives banks, businesses, and governments the confidence and knowledge they need to help this new digital economy thrive.     When was Chainalysis created? What problems does it solve? Chainalysis was founded in 2015, by Michael Gronager (CEO), Jonathan Levin (CSO) and Jan Moller. Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data platform powers investigation, compliance, and risk management tools that have been used to solve some of the world's most high-profile cyber criminal cases and grow consumer access to cryptocurrency safely. Our mission is to build trust in blockchains to promote more financial freedom with less risk.   What are your 2023 and 2024 plans? We are building for a future where all value transacts on blockchains. The internet made the distribution of information instant and universal, and cryptocurrencies will do that for value. The public sector will play an even more important role in the success of crypto's future, and we are continuing to double down on our government business. Last year we launched Chainalysis Government Solutions, a Chainalysis subsidiary with the capabilities to serve U.S. defense, intelligence, law enforcement, and civilian agencies. We're continuing to expand the range of solutions we provide to law enforcement, national security agencies, and regulators. On the private sector side, we've largely solved many of the concerns around AML risk by showing that because cryptocurrency is inherently transparent, exchanges armed with the right data and tools can run very effective compliance programs. In the aftermath of recent collapses, regulators and financial institutions also want to assess counterparty risk. In other words, how can they measure the financial health of individual cryptocurrency businesses and their exposure to potential systemic risks? Many of these questions can be addressed with on-chain data and analysis and we are exploring opportunities there. We believe the strongest companies in crypto are built during downturns. We are bullish on crypto native & TradFi growth and continuing innovation.   Do you pay your employees in cryptocurrency? Or normally in FIAT currencies? Employees are paid in FIAT.   Have you gone through any funding rounds? Do you have any more planned? In May 2022, Chainalysis, announced a $170 million Series F financing led by GIC, bringing its valuation to $8.6 billion. Previous investors Accel, Blackstone, Dragoneer, and FundersClub increased their investment in the company, and the Bank of New York Mellon and Emergence Capital also participated. At the moment we don't have any funding rounds planned.

Q1'23 revenue was PLN 412.2m (-2% y/y), in line with our expectations. Management signalled at the last earnings conference call that 1H'23 may not look optimistic. • Gross margin (28.9%) at a noticeably weaker level y/y - we had assumed a y/y decline, but it is larger than we had assumed. The company argues for the decline with higher raw material and energy costs and falling volumes. We note that the raw material cost base will start to become less demanding from Q2'23 onwards. • The ratio of SG&A costs to revenue has increased markedly y/y (a sizable increase in cost of sales on lower volumes).   • Impact of the balance of other operating activities in Q1'22 at: PLN -1.5 million. • EBITDA amounted to PLN 9.9m in Q1'23 (vs. PLN 36.8m a year ago). The result was much weaker than we had anticipated (due to weak margins and high SG&A expenses). Lowest EBITDA in Q1 since 2018. • Financial activities with a negative impact of PLN -5.4m (significant impact of foreign exchange). • Net result in Q1'23 at PLN -5.1m • Operating cash flow was PLN -76m in Q1'23 (significant increase in receivables). CAPEX: PLN 13m. • The Company had net debt of PLN 126m (PLN 76m after adjusting for loans to related parties). • As at the balance sheet date, inventories located in the 'conflict region' amounted to PLN 57m and receivables from customers from unrelated companies in the region amounted to PLN 23m.     The company's Q1'23 results are clearly below our expectations, despite our assumption that the results of Q1'22 could not be repeated. The gross margin fell more sharply than we expected, and SG&A costs rose sharply despite the decline in sales volumes. Management signalled at the last earnings conference call that 1H'23 may not look optimistic. It should also be taken into account that usually Q1 and Q4 are seasonally weak for the company and the strong results in Q1'22 and Q1'21 were rather a deviation from the norm. We assume that the demand environment for the company may continue to be challenging in the coming periods, while we expect cost pressures to ease (raw material prices in many categories are already clearly lower y/y, relatively high MDI prices in Europe remain a challenge). Our last forecast for 2023 was for PLN 151m EBITDA (vs. PLN 199m in 2022) - its realization will now largely depend on H2'23 (the base in Q2'23 will not be as demanding as in Q1'23, while Q3'22 was very strong in 2022, and Q4'22 recognized a one-off on the bank settlement). The company is not holding an earnings conference call, nor has there been a traditional earnings press release on the website to date. For the last four quarters' results, EV/EBITDA=3.6x, P/E=6.1x.      

As the UK retail sales data is released, there is a keen interest in understanding the current state of consumer spending and its impact on the economy. After experiencing a significant decline in March, the retail sales in April have shown signs of recovery. It is worth noting that the previous month's decline was primarily attributed to weather-related factors. However, inflation continues to pose a persistent concern.   The core retail sales figures have demonstrated a remarkable jump of 0.8% in April, following a decline of -1.4% in March. These numbers have exceeded the earlier estimated increase of 0.3%, which may raise some concerns for the Bank of England (BoE). While consumer spending is gradually improving, the forthcoming months are expected to witness a boost in spending due to anticipated further declines in energy bills.   Nevertheless, the employment sector is showing signs of weakness, as retail employment has experienced a decline for the third consecutive quarter, marking the most substantial drop since 2009. This presents a dilemma for the BoE as it navigates the high and persistent inflation alongside the emerging employment challenges.   In light of these developments, the Bank of England is likely to prioritize addressing the inflationary pressures, even if it means potentially impacting the economy and risking a recession. The delicate balance between managing inflation and supporting employment becomes a critical consideration for the central bank in the coming months.   We reached out to SquaredFinancial analyst to get their expert opinion on the matter. They provided valuable insights into the UK retail sales situation, shedding light on the factors influencing the recovery and offering their analysis of the broader economic impact   Could you please comment on the UK retail sales after it's released? The UK Retail Sales recovered in April after posting the biggest monthly decline in three months in March. The data showed that one of the main reasons behind March's decline is weather related. Yet, inflation is still there.   Core Retail Sales also jumped by 0.8% in April after a -1.4% decline in March, while estimates were to rise by 0.3% only, which somehow would worry the Bank of England (BoE).   Yet, looking ahead, consumer spending is improving gradually as energy bills are expected to decline further, while such a decline should boost spending once again in the 2nd half of this year.   However, employment is starting to show some weakness; retail employment fell for the third quarter posting the biggest drop since 2009. This is the dilemma the BoE needs to deal with. Inflation is still high and sticky, while employment is starting to take a hit.   Bank of England is likely to concentrate on inflation even if this means tipping the economy into a recession.

Crypto market seems to be quite resilient - what can we attribute to reduced price fluctuations? In one week's time only Litecoin and Decentraland have increased significantly, what has helped the altcoin?   While it feels like the calm before the storm in the cryptocurrencies market, few projects are on the rise. Although there are reasons behind the current state of the crypto market and every single green candle during this period of time. Let’s dwell deeper and discover those reasons!   Bitcoin itself is in a quite crucial spot. Traders aren’t fully convinced it is the time for correction for the King of the crypto market. In effect this brought us to this slow bleed price action, without major volatility. Until we see the decisiveness and more conviction in the market, the altcoins will suffer as well, as people sell them to avoid being trapped underwater (owning a certain asset, which costs below the price of buying) for a longer period.   First and most important is obviously Litecoin, the so-called “silver of the crypto market”. For the newcomers it might look like just another price spike. The real reason for LTC getting volatile is the incoming event of Litecoin halving, which cuts the rewards in half, which in this case are the only supply of LTC.   Therefore, similarly to Bitcoin, this crypto asset stays loyal to its own price cycle. Decreasing of the supply quickly can result in higher demand, which eventually turns into price soaring up. As the traders and investors are well-aware of this correlation, they tend to buy the Litecoin before the event itself, to overtake the major wave of the buyers in the days surrounding LTC halving.   We’ve also encountered major price spikes on assets under the narrative of metaverse and AI, like for eg. FET, AGIX and MANA.   During the periods of the indecisiveness of the market, most of the altcoins (every crypto asset except the Bitcoin) suffer, as the majority of the traders prefer to play it safe by staying out of them.   This leads many altcoins to enter the “discount zone”, but going further down isn't out of the question. If such a condition of the market is prolonged, the top trending assets are becoming a very tempting option for traders, as it may happen they just have caught the bottom of such a project, which may be a very lucrative trade.   Therefore in the last days we’ve seen several price spikes, but mostly on the altcoins following the top trends and narratives.

The technology industry is currently going through a challenging period. The financial results of companies in this sector are noticeably worse than they were a year ago. However, NVIDIA seems to be relatively resilient to market turbulence. The company has released its financial results for the first quarter of fiscal year 2024.   Although the overall results are worse than they were 12 months ago, there is a visible quarterly growth. The question remains whether this trend will continue in the near future. The first quarter of fiscal year 2024 ended on April 30th.   According to the published data, NVIDIA recorded revenues of $7.19 billion during this period. This represents a 13% decrease compared to the same period last year and a 19% increase compared to the previous quarter. At the same time, the company achieved a GAAP net income of $2.04 billion. For the Non-GAAP comparison, it amounted to $2.71 billion.   These figures are interesting when compared to previous financial results. In the case of GAAP, there was a 26% increase in profit compared to the same period last year, while for Non-GAAP, it decreased by 21%. Both cases showed growth compared to the previous quarter, with increases of 44% and 25% respectively. We would like to hear the commentary on this matter from HFM Market Analyst, Marco Turatti.     Could you please comment on Nvidia earnings after they're released? Nvidia presented extraordinary results for Q1 2023, which far exceeded analysts' expectations on Wall Street, as well as a very strong outlook, and soared +25% in after-hours trading on the wings of its dominant position in GPU chips for AI. It added $220 billion in market cap in 1 hour, becoming the sixth largest company in the US500 and surpassing the value of all its US competitors combined (AMD, Intel, Micron).   Adjusted EPS was $1.09 versus 92 cents expected; Revenues was $7.19 billion, versus $6.52 billion expected. Sales of $11B exceeded the $7.5B forecast by 50%, with $4.28B coming from the Data Center business. Performance was driven by demand for its GPU chips from cloud vendors as well as from companies developing big LLM models like OpenAI (and many others).   Nvidia chief Jensen Huang said that the development of AI applications puts Nvidia in a prime position for a 10 year cycle at least. But he also warned of the risks of huge damage that could ensue from the US tensions with China, a market that ''cannot be replaced'' and will grow four times (up to 178 B Yuan) over the next four years, including for projects related to smart cities and edge computing.   One has to look between the lines to find some blemishes in the earnings reported: the gaming division reported a 38% drop in revenue while the automotive division grew 114% yoy but remains small at $300 million. One of the ''biggest problems'' right now are the financial ratios: NVIDIA has a Price to Sales of 29.4x, the most expensive of any US stock in front of MSFT at 11.5x (US500 average is 2.4) and a Price to Earnings Ratios of 182, second only to AMZN and 10 times higher than the US500 average (24). With an expected opening on 26/05 at $380, NVDIA is at an all-time high and looks rather expensive despite its excellent prospects.           Marco Turatti – HFM Market Analyst  After working for about 10 years in institutional trading rooms across Europe, Marco entered the FX sector as an analyst leveraging his knowledge of the financial markets. With a degree in Economics, from 2007 onwards he has constantly -and sometimes obsessively- studied and improved his trading and risk management techniques through active and direct investments. He is a firm believer in the need to know completely the securities one is dealing with, to always have a plan B ready, to build a macro view from which to derive the micro plan of action and -above all- to be strict with the rules one has set oneself, without taking anything personally.