Honda Motor Company (HMC: NYSE)

Honda’s success in the midst of a broader automotive sector slowdown is an impressive feat. The company’s remarkable 16% sales growth in 2023 is evidence of the team’s hard work and dedication. What’s more, the positive trend is anticipated to continue, with a significant increase in motorcycle sales predicted for next year. Looking to the future, Honda has signed a deal with GS Yuasa International to produce high-capacity, high-output lithium-ion batteries for electrical vehicles, with plans to transition completely to EVs by 2040. 

In the United States, Honda’s April sales are up an impressive 24.5% at 116,082 units, indicating the company’s continued success. Investors seem to have taken notice, with many showing optimism for Honda’s future, with an upside target of $43.00-$45.00, HMC is definitely one to watch as the EV industry gathers pace.

Gold (XAU)

Gold, a popular precious metal, has been making quite a stir lately. Looking at the weekly timeframe, it is evident that Gold has just retested a massive previous weekly resistance area at $2050, which also happens to be the previous all-time high. This resistance area has been powerful enough to cause a rejection of the metal. 

However, it is not all bad news for the Gold enthusiasts as they can see that the metal is now reached a previous weekly resistance, which has turned into support at $1940. It is anticipated that Gold will at least experience a short term rejection away from this support area. These recent developments are surely keeping Gold enthusiasts on the edge of their seats!

ETH/USDT

In the last two weeks of May, ETH consolidated in the $1,800 – $1,850 support area before successfully breaking and retesting the $1,850 level this week. 

ETH has been holding up very well in the current market, even outperforming Bitcoin in recent weeks. 

With the price currently trading at $1,882, there’s a potential for it to rise and test the next major resistance level at $1,950 – $2,000. If the $1,850 support level is breached, the next support area is at $1,800, followed closely by the daily ascending support line at $1,775.

FTM/USDT

Over the last three days, the price of FTM has consolidated around $0.31. With the price currently oversold on higher time frames, there’s potential for an upward move back to test the next resistance areas. 

First is the descending resistance line, originating from the start of May, at around $0.33. If that level is broken, the next resistance area will be at around $0.36. That was the same level that briefly held as support during the middle two weeks of May. 

The current $0.2950 – $0.3280 area is acting as significant support for FTM, which I anticipate will continue to hold for the time being.