Market commentary and analysis insights. Brought to by FM Capital Group.
Author: @dayomabinuola
Temidayo Mabinuola is an entrepreneur, Financial Trader and former Investment Associate at FM Capital Group. His knowledge and expertise on trading instruments is fueled by a passion for markets. In his time of learning forex trading, he fell in love with the use of technical analysis over fundamentals. He has been a guest on Channels Television on the program, NETWORK AFRICA.
Dayo is a graduate of Banking and Finance from Redeemer’s University earning his Bachelor of Science degree. You can follow him on Twitter and Facebook.
AMTD Digital is a Hong Kong-based financial technology firm founded in 2019. It’s a subsidiary of AMTD Group. It had its IPO in July 2022 on the New York Stock Exchange at $12 per share. In August, just two weeks after the IPO, there was a rally that took price up to $2545 which stands as the all-time high. That price gain was over 212X.
Daily Chart
After the all-time high was reached, there was a massive price dump in that same month of August and price went below $100. Since September 2022, price has been below $100. AMTD Digital closed 2022 below IPO at $10.09. It opened on the first trading day of 2023 at that same price. On the 5th of January, there was a gap up and price closed for the day at $29. This rise was an appreciation of 199.50% in one trading day.
Weekly Chart
Currently on the daily chart as a result of the price rally, RSI shows price has been overbought. Our analysts think that price might rally to $60 soon.
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 your portfolio? Schedule a meeting with us here
Alibaba had its IPO on the New York Stock Exchange at $94.11 in September 2014. After Alibaba’s share price reached its all-time high at $318.92 in October 2020, the share price began to slump and it reached a 2-year low at $58.26 in September 2022. The last time Alibaba’s share price got this low was in October 2015.
Weekly Chart
In November 2022, there was a bounce in share price from the support level. This bounce continued into the new year. The first few trading days of 2023 have been promising for Alibaba investors as price has rallied to $103.92 from the 2022 close of $88.45 which is about 17.4% appreciation in just two trading days.
Monthly Chart
From a technical analysis standpoint, this rally could be a temporary one. Price may slump again in the coming weeks as bears are still in control. On the monthly chart, despite the bearish run for about two years, price is yet to be oversold which means price can still fall further. Our analysis shows that Alibaba’s share price might still fall back to the 2-year low at $58.26.
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 your portfolio? Schedule a meeting with us here
Global economic activity is experiencing a broad-based and sharper-than-expected slowdown, with inflation higher than it’s ever been in several decades. The cost-of-living crisis, tightening financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic all weigh heavily on the outlook. Global growth is forecasted to slow to 2.7 percent in 2023 from 3.2 percent in 2022. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic.
Taking a look at a few of the markets in 2023:
1. Nifty 50: This is a benchmark Indian stock market index that represents the weighted average of 50 of the largest Indian companies listed on India’s National Stock Exchange. Nifty 50 had a bounce from the lockdown lows in 2021. This appreciation continued in 2022 as price reached an all-time high at 18900 in the last week of November. The first half of 2022 was dominated by the bears until July when the bulls pushed price to a new all-time high. in 2023, we might see Nifty 50 below 15000.
NIfty 50
2. FTSE 100: This is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. Just like Nifty 50, the FTSE 100 bounced from the pandemic lows. The FTSE 100 ranged between 7600 and 7682 in 2022. We might see a breakout of the resistance level of 7682 in 2023.
FTSE 100
3. DAX: The DAX is a stock market index consisting of the 40 major German blue-chip companies trading on the Frankfurt Stock Exchange. The DAX rallied in 2021 from a 2022 low of 8288 to an all-time high at 16278. The first three quarters of 2022 were bearish until October as the bulls pushed the price of DAX upwards. The price of DAX could reach a new all-time high in 2023.
DAX
4. NIKKEI 225: The Nikkei 225 is the stock market index for the Tokyo Stock Exchange. The Nikkei measures the performance of 225 large and publicly owned companies in Japan from a wide array of industry sectors. The Nikkei 225 shows that it could reach a new all-time high in 2023. 2023 might just be a year to recover losses incurred in 2022 as a result of the activities of the bears.
Nikkie 225
5. S&P 500: The S&P 500 is a stock market index tracking the performance of 500 large companies listed on the stock exchanges in the United States. The year 2021 ended as the SPX reached an all-time high at 4822. The year 2022 was not a good year for the SPX investors. The year 2023 could be a year of recovery and SPX could reach a new all-time high.
SPX
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 your portfolio? Schedule a meeting with us here
Prometheus Biosciences is an innovative biotech firm aiming to develop novel therapeutic and companion diagnostic product candidates for the treatment of immune-mediated diseases.
Prometheus ($RXDX on NASDAQ) had its IPO on March 12, 2021, at $25 per share. $RXDX has a market cap of $2.01Billion and generates $3.13Million in revenue annually. On Wednesday, the 7th of December, the company released a result of treatment in the development for ulcerative colitis (UC) and Crohn’s disease (CD). The result from this study showed it was effective as a treatment and safe for use.
Weekly Chart
On the 6th of December, $RXDX closed at $35.32 per share. By the opening of the following trading day, there was a gap up as a result of the release of the aforementioned report. This gap up made price open at $105.20 which was over 200% appreciation of the stock as of the time price opened on the 7th of December.
Daily Chart
That same day, price kept rallying to about $112 before it reversed. At the end of the trading day, price closed at $95.80. We might be seeing a price fall to $64 in the coming weeks. In September, RSI indicated price was overbought on the weekly time frame. Right now, RSI is also indicating on the weekly time frame that price is overbought due to this recent rally.
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 opening price of Gold in 2022 was $1828.01. Despite the rally in January, the month ended on a bearish note at $1796. February and March were much more bullish as price hit $2070 which was last reached in August 2020.
Weekly Chart
The bears took control as Q2 began and from April to October, all monthly candlesticks closed bearish. This bearish run made price hit $1616 which stands as the support level for the last two years i.e. 2021 and 2022.
Analyzing November and the first few days of this month, there seems to be some hope for Gold. In November, price bounced from the year’s support of $1616 as November closed at $1768. This bullish run has continued as price touched $1800 on December 1, 2022.
Daily Chart
Currently, price has reached a new month’s high at $1809. Our analysts do not see the bears taking over and that means by December 31, 2022, the price of Gold should still be above $1800 psychological level. RSI indicates on the daily time frame that price is overbought however, this might not translate to a price reversal soon.
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 commodities in your portfolio? Schedule a meeting with us here
Udemy is a massive American open online course provider. It was founded in 2010 and by April 2021, the platform had recorded more than 40million students, 155,000 courses and 70,000 instructors in over 65 languages. As of 2022, Udemy has over 52milion users. Between 2011 and 2020, Udemy made some series of fund raising. The last funding before the IPO in 2021 was for $50million at $3.2billion valuation led by Tencent Holdings.
Weekly Chart
On October 29, 2021, Udemy held their IPO with a price of $27 per share. Price of $UDMY rallied only for a few weeks from its IPO to reach an all-time high at $32.68 on the 19th of November 2021. The next trading day after the all-time high was reached, the bears took full control and price began to dip and closed below the IPO price even before the end of November 2021.
Monthly Chart
The opening price of this year was at $19.51. as price, it has also been a year of low volatility, though the first four months closed bearish. The price of $UDMY in 2022 has been between $19.84 in January, which is the highest price level in the year and $9.47 in July, which also stands as the all-time low. Udemy share price right now is at $14.24 and we might be seeing a price fall to $11.79 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
Founded in 1856, Credit Suisse Group AG, Credit Suisse for shorts, is a global investment and financial services firm based in Switzerland. It is not only listed locally on the Swiss Stock Exchange, and it is also listed on the London Stock Exchange and New York Stock Exchange.
Monthly Chart
In September 1995, Credit Suisse Group AG got listed on NYSE at an IPO price of $22.93. Since the IPO, Credit Suisse bulls have been able to push price to an all-time high at $77.38 in April 2007. Since this all-time high, the bears have steadily gained control of the price movement as price dipped to $17.94 i.e. below IPO, in March 2009.
Weekly Chart
From March 2009, there was a rally to October of that same year that took price to $58.69. However, since then, Credit Suisse has nosedived as share price hit a record low of $3.37 yesterday, November 28, 2022. According to Bloomberg, this is the investment bank’s worst bearish run ever. According to our analysts, Credit Suisse share price is expected to bounce from this point to $6 soon.
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
On the first trading day of the year 2022, Goldman Sachs share price opened at $387.10. The bulls only enjoyed a few days of rally as price reached the year’s high at $413.33. This mark was hit on the 5th of January which was the third trading day of the year.
Daily Chart
Following this rally that took price to the year’s high, the bears have been in control of the price movement causing a dip in price. This dip has seen Goldman Sachs’ price sink to hit the year’s low at $278.19 in July 2022. The last time price went this low was in January 2021. It is worthy of note that Goldman Sachs hit its all-time high in the same year 2021 at $426.50.
In the second half of this year, the bulls have become more active. There was a bounce from the year’s low to $359.50 in August 2022, which was also the initial resistance for the second half of 2022. When this resistance was hit, there was a correction on the weekly chart which caused price to fall below $300 for the second time in the year.
Weekly Chart
In October 2022, the bulls regained control of the price movement sending Goldman Sachs’ share price on a 6-week jolly ride upward. Price is currently at $379.14, which is the resistance level on the weekly chart. Although, RSI indicates price is overbought on the daily chart, it does not indicate that it is overbought on the weekly chart. Our analysts believe that this rally is strong enough to take Goldman Sachs’ share price to a new all-time high.
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 Solana project was launched in 2021, the first four months were all bullish. Solana had its ICO at $25 and in the space of those four months, it rose to an all-time high of $260. But just like other cryptocurrency assets in 2022, the price of Solana has fallen dramatically.
Daily Chart
Investors in crypto have not seen profit in 2022 as many crypto assets have been dipping. Solana’s year’s low is $12.245 which was reached earlier this month, and this currently stands as the all-time low for this cryptocurrency.
Weekly Chart
Currently, there is a consolidation in motion. However, there are no indications of a rally resulting from this consolidation. On the daily chart, price is currently oversold on the RSI. But there are no indications on the RSI weekly chart that price is oversold.
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 cryptos in your portfolio? Schedule a meeting with us here
Between 2014 and 2020, Silver ranged between $11 and $21 per ounce. A breakout of the 6-year resistance occurred as a result of the ease of lockdown in the second half of 2020. This breakout led to Silver rallying to $29 per ounce.
Weekly Chart
Since the rally to $29 in July 2020, the bulls have found it difficult to get Silver to exceed that $29 mark. The bears have continued to dominate the charts and price was pulled down to $17 in late August 2022. The last time the price of Silver was $17 was in July 2020.
Daily Chart
Silver’s current support level is $17. A bounce from this support level occurred early in September 2022 and price is now at $21. We might be seeing Silver lose a few points in the coming weeks and the commodity could fall to $19 per ounce.
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 commodities in your portfolio? Schedule a meeting with us here
