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GameStop Rally Might be Countered by the Bears

GameStop Rally Might Be ShortLived

GameStop ($GME) is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Texas, USA. GameStop is the largest video game retailer in the world. GameStop was founded 39 years ago. As of January 2023, GameStop had 4,413 locations. The revenue as of 2022 was at $5.93billion. In 2022, $GME had a full-time employee strength of 11,000; and 14,000-27,000 part time employees as of January 2023.

On the 8th of June, a gap-down occurred but as of the 12th of June 2023, a rally occurred to close up the gap-down. On that day, $GME opened at $22.85 and closed at $24.30 i.e. $GME gained 7.14% in a single trading day. However, our analysis forecasts that $GME bears will take control of the price movement regardless of the recent rally. The price of GameStop might fall from the current price of $25.80 to $17.62 in the coming weeks.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here.

The Pound to Gain Against the US Dollar

Pound To Gain Against The U.S. Dollar

The GBPUSD pair has been in a bearish movement since the beginning of 2021. The support level of GBPUSD stands at 1.03696, which was reached in September 2022. This point also stands as the all-time low of the pair. After this low, price rallied through the rest of the year, that is, in October, November, and December of 2022. The bullish momentum continued in 2023 as the bulls began to push price to new highs.

As it stands, the dollar has continued to lose its strength against the pounds. The GBPUSD bulls could push price higher in the coming weeks. The price could reach 1.25000. The current price as of the time of publishing this article is at 1.24210. On the monthly chart using the RSI, the price has been oversold. The candlesticks are in the upper region of the Bollinger Bands. There are higher lows and higher highs already being formed on the daily chart. If in the short-term, price is able to hit 1.25000 as mentioned above, then we forecast that the bulls might be able to push price to 1.26000 later in the year.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get currencies in your portfolio? Schedule a meeting with us here.

SPX Likely To Dip To Previous Support Level

The Standard and Poor’s 500 commonly known as SPX or S&P 500 is a stock market index that was founded 66 years ago. It is one of the most commonly followed equity indices. As of December 31, 2020, more than $5.4 trillion was invested in assets tied to the performance of the index. As of December 31, 2022, the market cap of SPX was at $33trillion. Since SPX was launched on the stock exchange in 1972 at $4.49, the index has been on a long-term bullish run. Each time a correction occurs on the monthly chart, the price of SPX reaches a new high. The all-time high of SPX is $4,822 which was hit in January 2023.

The opening price of SPX in 2022 was $4,777 and closed at $3,825. The stock index had a woeful 2022. 2023 has been bullish with SPX opening for the year at $3,856. 2023’s high was hit this month at $4,215. The support level of SPX in 2022 was $3,497. In the coming weeks, we might see the price of SPX fall to $3,497 from the current price ranging a little bit above $4,000. As of the time the article was written, the price is at $4,115.23.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stock indices in your portfolio? Schedule a meeting with us here

Salesforce Reaches 52-week High

Salesforce Reaches 52-Week High

Salesforce Inc is an American cloud-based software company. The company was founded on the 3rd of February 1999 in the USA. Since its founding, Salesforce has grown to one of the largest companies in the world. It had its IPO in 2004 at $3.75 per share. Salesforce is currently the 48th ranked company in the world with a market cap of $202.06Billion as of the 15th of May 2023. Salesforce is listed on NYSE as CRM. As of this year, Salesforce has a total staff of 79,390.


In November 2021, $CRM reached an all-time high at $311. The bears resumed activities after the high in 2021 and price fell throughout 2022 until it reached $126 per share. Before the end of 2022, there seemed to be a bit of hope for the bulls as a rally began. The opening price of $CRM at the beginning of 2023 was $135. This rally has resulted to a 52-week high at $206 on the 10th of May 2023. This rally could continue as price could reach $225 from its current price of $203.45.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stock indices in your portfolio? Schedule a meeting with us here

Papypal Shares Fall To 2022 Low

PayPal Shares Fall To 2022 Low

Paypal operates as an online payment system in majority of countries that support online money transfers. It serves as an electronic alternative to traditional paper methods such as checks and money orders. Paypal was established in 1998. In 2022, Paypal was ranked as the 143rd company on the Fortune 500. It is traded on NASDAQ as $PYPL. As of 2022, the total revenue of Paypal stood at $27.52billion.

Weekly Chart

$PYPL had its IPO in July 2015 at $34 per share. In the space of 6 years, July 2021 to be precise, $PYPL reached $310, which currently is the all-time high. After the high was reached, $PYPL lost significant value.

The year 2022 was bad for investors in $PYPL as it was a bearish year. The bearish movement has continued this year as price reached a new low on the 9th of May, 2022 at $65.91, making it the lowest price since October 2017. In February 2023, PayPal laid off 2,000 workers which is 7% of its total workforce. This mass layoff could have been as a result of the year-long downward slope of the share price in 2022.

From the technical standpoint, $PYPL might recover in the coming weeks. Price is currently at $65 as at the time of writing this article. We could see price rally above $70.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stock indices in your portfolio? Schedule a meeting with us here

Nasdaq Hits 8months High

NASDAQ Hit 8-Month High

NASDAQ is an acronym for the National Association of Securities Dealers Automated Quotations. It is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. Nasdaq was founded in February 1971, and has a listing of 3,554 companies. The market capitalization of Nasdaq is $18trillion as of January 2023.

The Nasdaq in the last two decades has mostly being bullish. The all-time high of NASDAQ was at $16,745 in November 2021. After the all-time high was reached, price dipped to $10479 in October 2022. Price consolidated for a few months until a rally began in February 2023. As of the time of this writing, the current price of NASDAQ is at $13013, an 8-month high. As this rally continues, we might see the price of NASDAQ hit $14,000 in the coming weeks.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stock indices in your portfolio? Schedule a meeting with us here

Tesla’s Share Price Dips to Previous Month’s Low

From the all-time of Tesla in November 2021 at $418 per share, the $TSLA share price has been falling in value. All investments made at the beginning of 2022 ended in negative figures due to the one year plus bearish trend. Despite the bearish trend in the market, Tesla made a revenue of US$81.46billion in 2022.

Despite the bearish trend of 2022, price of $TSLA was beginning to rally in 2023. with the price bouncing from the 2022 support level of $101 to the 2023 high of $218. In recent weeks the bears have pushed price to $155 and this could continue for some time.

On Thursday the 20th of April, 2023, the tesla share price opened with a gap down at $166. The lowest in the previous month was $164. The price on that Thursday closed at $163.04, a little bit lower that the March 2023 lowest price. Since the gap down, the bulls have failed to make a turnaround in the price as the price keeps falling.

ON the 4hr chart, RSI showed that price had been overbought at two different times in March and currently shows that price has been oversold once in April. We might be falling to $113 in the coming weeks.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here

Bed Bath & Beyond Files For Bankruptcy As Price Falls Below IPO price

Bed Bath & Beyond Files For Bankruptcy

Bed Bath & Beyond Inc. is an American big box store specializing in home textiles, housewares, decorative home accessories and specialty items. The chain operates stores in the United States, Canada, Mexico, and Puerto Rico.

Bed Bath & Beyond was founded in 1971. It was counted among the Fortune 500 and the Forbes Global 2000. As of February 2022, $BBBY boasted of 32,000 employees with a total asset of $5.13billion. It is publicly traded on Nasdaq and Russell 2000 component. The last time $BBBY share price dipped was during the lockdown as price reached $3.75. Post-lockdown, there was a bounce to $54 in January 2021. The rally was countered with a bearish turn as price is currently trading at the IPO price of 1992 of $1.14. The current price of $BBBY is $0.1888 making it the worst price of $BBBY.

On April 23, 2023, the company filed for Chapter 11 bankruptcy and announced that it would be winding down its operations after several failed attempts to turnaround the company. ON the weekly chart, RSI showed that price had been oversold once. The price of $BBBY could trade around $1 for some months even if price would appreciate later, that is if the government comes to support the ailing company.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here

Microsoft Share Price Reaches 2023 High

Microsoft Share Price Reaches 2023 High

Microsoft is an American company that develops and distributes software and services such as a search engine (Bing), cloud solutions and the computer operating system, Windows. As of April 2023, Microsoft has a market cap of $2.129 Trillion. This makes Microsoft the world’s second most valuable company by market cap. According to Microsoft’s latest financial reports the company’s current revenue is $204.09 billion. In 2021, the company made a revenue of $184.90 billion which was higher than that of 2020 at $153.28 billion.

Last year was not so good for $MSFT after price dipped from the year’s high at $326 and closed at $238. There seems to be a bit of hope as Microsoft share price has rallied and it is about to reclaim the $300 threshold. Price currently stands at $286.89.

On the 6th of April, Microsoft’s share price reached $292, making it the highest point that Microsoft’s share price has reached in 2023. The stocks of several tech firms are currently appreciating, which is reflected in the S&P 500. Our analysts see Microsoft’s share price reclaiming the $300 pyschological level in the coming weeks.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here

Manchester United Plc Shares Fall To 2023 Low

Manchester United Shares Fall To 2023 Low

Manchester United Football Club, commonly referred to as Man United (often stylized as Man Utd, Man U or simply United), is a professional football club based in Old Trafford, Greater Manchester, England. The club competes in the Premier League, the top division in the English football league system. It is nicknamed the Red Devils. Manchester United was listed on NYSE in August 2012.

Weekly Chart

Since the price of $MANU reached $27.74 in August 2018, which currently stands as the all-time high, price has been falling and it eventually fell to an all-time low at $10.50 in July 2022. There was a sudden rise in the latter part of 2022 as price of MANU jumped. This jump made price reach $27 in February 2023 which is a 4-year high.

Daily Chart

The family that controls Manchester United is reportedly leaning toward bringing in a minority investor, and not selling out the famous British soccer club. Investors hoping to cash in on a premium valuation were disappointed, after the shares of Man U went down as much as 10.63% on Monday, the 17th of April. Price has consolidated since the beginning of the year. This consolidation has made price fall to the current 2023 low at $19.07.

On the larger time frames, price is currently being controlled by the bulls. We might be seeing price rally in the coming weeks to $23 from the current price of $19.74.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here