Stock Market – Aston Martin Price Forecast News – Capital Street FX
15 Nov 2022
Aston martin to deliver fewer cars this year as shares go into reverse
Aston Martin’s debt interest payments have pushed it to a deeper loss as the luxury car maker warned that renewed supply chain problems mean it will sell fewer cars than expected this year.
The luxury car maker had targeted sales of more than 6,600 this year but said it may now sell closer to 6,200 as it struggles to source some parts.
The target reduction came as the company posted a loss for the July to September quarter of £226m, more than double the £98m it lost in the same period a year ago. Losses for the year so far have now reached £511m.
Aston Martin’s continued struggles stand in stark contrast to rival luxury marque Ferrari, which said it would surpass both its sales and profit targets for the year after a “very robust” third quarter.
ASTON MARTIN TECHNICAL ANALYSIS
In the daily chart Aston martin is currently trading in the down channel.
It is currently trading below all MA; RSI is in the selling zone.
Its immediate resistance is at 145.41 and its support level is at 125.08
HOW TO TRADE IN THIS WEEK
Currently, the market is trading in a gap down scenario. If it keeps on breaking the previous day’s low of the candle, then it will furthermore fall.