Month: August 2024

The Stock Index, SPX opened a bit lower yesterday as it lost 15.30points in the first few hours, which is 0.27%. The opening price of SPX in 2024 was $4749. The bulls have since then pushed price to new highs. The January 2024 rally was able to break the resistance of December 2021/January 2023 at $4,821. This year has been good for many tech stocks in the SPX, as the index has appreciated by 17.6%. The all-time high of SPX is at $5671, which was in July 2024.

In July 2024, SPX had an overbought position on the RSI on the weekly chart, and on the monthly chart price has just recently been overbought. From the all-time high in July 2024, price fell to $5124 in the first week of August, a price recovery has started, with current price at $5621. SPX might break new highs in the coming months despite indication of price being overbought.

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 indicies in your portfolio? Schedule a meeting with us here

As of August 2024, Walt Disney has a market cap of $156.17 Billion and its share price is $86.05. In 2023, the company made a revenue of $88.93 Billion, an increase over the revenue of year 2022 which was $84.41 Billion. In the last one month, Disney has lost 11.92% of its value and 19.03% of its value in last 3 months. Disney’s 2024 high is $123.95, which happened on the 28th of March 2024.

In the first week of May 2024, there was a gap down in the price of Disney from $117 to $107 per share. This gap down is yet to be covered as the bears have continued to push price lower. The current 2024 low is $84.03. Disney’s support level in 2023 was at $79.03 per share, almost the same as the lowest price in 2020.

Our analysts see price jump from the low to new highs in the coming months. Price is sold on the daily chart. Price of Disney might move past $120 per share from its current price of $86.05.

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

Since the beginning of August 2023, many investors have begun to count their loses following the global market plunge. On Monday, August 5, stock prices crashed across several economies. Investors were worried about a potential recession and the knock-on effects from the unwind of the yen carry trade.

As of Monday, the 5th, West Texas Intermediate crude oil fell 0.97% to $72.81 a barrel. For Brent crude, the international benchmark, declined 0.90% to $76.12 a barrel. Gold was lower by 1.51% to $2,432.40 per ounce. The 10-year Treasury yield dropped 9 basis points to 3.70%. Bitcoin plunged 14.2% to $49,846.

FTSE 100 closed down to register its biggest drop in more than a year. Overnight, Japan’s stock market suffered its heaviest loss since 1987.

With all of these occurrences last week, the stock market is beginning to recover its losses. As of the time of this writing, Starbucks has gained 22% today, PACs Group has gained 14.50%, Tesla 3.85%, SPX 1.05% in just a single trading day. There is a possibility this rally will continue this quarter, i.e. we expect prices to maintain an upward trend for the rest of August and through September.

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