Want to know what real investors think about the markets and individual stocks?
Well, Tradebird, a social application for investors and traders, keeps tabs on whether its users are bearish or bullish on a wide range of financial assets and indices.
Following is a list of closely watched stocks and other assets, along with sentiment readings among Tradebird users.
The cryptocurrency started the first week of 2017 with a promising rally that pushed the value of one bitcoin to more than $1,000. Investors saw a perfect opportunity to sell short bitcoins, and at the end of last week there was a serious pullback to less than $900. After that pullback, bitcoins are attracting attention again, and users on Tradebird are now 67% bullish on the digital currency.
2. Tesla (TSLA)
Last week Tesla announced that it had started mass production of lithium-ion batteries at it Gigafactory. Shares rose following the news, and shares of the electric car company finished Monday's session at more than $230. Tradebird users are 63% bullish on the stock. We would recommend caution, however, as further possible delays on the production of the long-anticipated Model 3 car could weigh on the stock's price going forward.
3. Walt Disney (DIS)
The new Star Wars movie Rogue One was released in mid-December but continues to perform really well at the box office. Each time a new installment of the Star Wars franchise is released, Disney shares rally, and on Monday, the stock closed at $108.36. This is one of the best stocks to own, according to Tradebird users. Sentiment is 96% bullish!
The dollar has been quite volatile since the start of 2017. The dollar/yen (USD/JPY) pair is moving between 118.6 and 115.5 so far, providing a lot of short-term trading opportunities. The minutes of the December Federal Open Market Committee meeting were announced last week, as well as some important U.S. economic data. Now all eyes are set on President-elect Trump and his inauguration. The sentiment for this currency pair is 59% bullish, which means a majority of investors think the value of the dollar will rise against that of the yen.
The volatility of the greenback is affecting this currency pair as well, and it has seen some serious fluctuations since the start of the year. At the moment of writing, the euro/dollar (EUR/USD) currency pair was at 1.057, and Tradebird members were seeing a great shorting opportunity in this pair. Sentiment was 61% bearish.
The yellow metal saw a significant recovery last week. On Tuesday morning, gold was trading at $1,183 an ounce. The sentiment on Tradebird was 55% bearish, as investors see some significant technical resistance at current levels.