@dayomabinuola, Author at FaithMight

June 20, 2022June 20, 2022

Crypto Bulls To Resume Activities

In one of our articles written in Q4 2021 when the price of Bitcoin was at $58,229 and Ethereum at $4,200, we talked about price of Bitcoin to fall to $29,000. On the 10th of May, 2022, Bitcoin reached $29000, which was spot on. Many of the bulls have been liquidated due to the recent price fall. With the price fall of Bitcoin to $20,000, the gap up in December 2020 and January 2021 has been filled.

Our forecast currently shows crypto bulls are about to resume activities, as we might be seeing a rally in the coming weeks. Price of Bitcoin might be back to $48,000 and Ethereum to $3,500. This could be a sign of relief for investors after crypto has lost $1.1trillion in market capitalization in the last 80 days, the fastest and largest known loss in its history. Buying Bitcoin $48,000 and buying Ethereum above $3500 might be a bull trap. We might be seeing Bitcoin at a 4-digit value and Ethereum at a 2-digit value after prices reach $48,000. Are investors prepared to see price of Bitcoin at $4,000 and Ethereum at $90? Time will tell.

Yes, the market is about to favour the bulls, as a strong support is reached at $20,000 for bitcoin and Ethereum at $1,000. RSI on the weekly chart shows price has been oversold. There are some dojis formed in May and the first week in June, which is a sign of price reversal. Currently we still have price in the lower region of the Bollinger bands, as price is consolidating.

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 cryptocurrencies in your portfolio? Schedule a meeting with us here

June 16, 2022June 16, 2022

Solana Falls Below $30

The cryptocurrency space has suffered a setback in recent times as most crypto assets have dipped in price. This has led to the funds of many investors and traders being wiped out. The hope of price recovery keeps dashing out as price continue to fall.

Solana is the 9th biggest cryptocurrency in the world by market cap, which stands at over $10.7billion. On the 13th of May, 2022, according to this article, Solana was at $52. Our analysts envisaged a continuous fall in price. On the 14th of June, price dipped to $25. The last time Solana price was at $25 was in July 2021, that’s about a year ago. Note that Solana reached an all-time high at $259 in November 2021.

The daily chart shows that the price of Solana has been oversold twice between May and June 2022 on the RSI. The NFT world has also suffered alongside this crypto crash. The value of all Ethereum and Solana-based projects have dropped across all boards. There are currently no indications of a price rally. The price of Solana is currently ranging, though the current price is at $31.395.

June 14, 2022June 14, 2022

Tides To Turn In Favor Of The New Zealand Dollar

On May 31 2022, we published an article that the NZDUSD bears will stay dominant. This turned out to be the case and furthermore, the forecast we made was hit a few days ago. Across the board, the USD has gained against all major currencies.

The support level of the year for NZDUSD is around 0.62205 and price fell this month to 0.62370 which is only a few pips above the support level. On the 4-Hour time frame, price is currently oversold. Also on the 4-Hour time frame, there are 5 dojis already formed which could be an indication of a possible reversal.

For the past two weeks, all candlesticks on the daily chart have closed bearish. We hope that in the next few days, as consolidation comes up, price could rally and a trend could begin in favor of the NZD. We look forward to NZDUSD appreciating to 0.64613 from its current price of 0.62493.

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

June 10, 2022June 10, 2022

Block, Formerly Square, Loses More Than 50% Of Its Value In 2022

Since the price of Block reached its all-time high in August 2021 at $289.05, the bears have aggressively taken over the market. The monthly chart of $SQ throughout the year 2021 showed a ranging market. The price at the beginning of Q4 2021 was at $255.88. Q1 2022 began at $162.87, that’s about $100 loss in the space of one quarter. We wrote an article in December 2021 of a continued bearish trend of $SQ. At the time the article was written, price of $SQ was at $192.15. The price of Block as of 9th of June 2022 closed at $76.58.

Will the price of $SQ fall to the 2020 lockdown lowest price at $34.28? The company has lost 9.64% in the last 24hrs, lost 7.85% in the last 7 days and in the last one year, it has lost 63.57%. The market cap of the company is currently at $44.45billion. There are still no hopes of price rallying soon as price might still continue to range or fall further in the coming months. Investors have no choice at this time but to be patient as the effect of the newly introduced blockchain technology to $SQ could make the price rally in the second half of 2022.

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

June 8, 2022June 8, 2022

Walmart Share Price Falls to A Two-Year Low

The American multinational retail company reached an all-time high at $161.03 in April 2022. This point was reached after price ranged from the latter part of 2021 to March 2022. Following the range, price broke out and headed for the aforementioned point that became the all-time high.

The month of May 2022 ended bearish after the price opened at $154.82 and closed at $128.38. The month of June 2022 has begun on a bearish note but $5 has been lost from the opening price of the month of June 2022 which was at $154.82. In May 2022, the price fell to as low as $117.05. Price last hit this point in July 2020.

RSI showed in Q4 2020 that price has been overbought. The trendline is yet to be broken despite the corrections. The 4-Hr Chart shows there was a gap down in the price of Walmart mid-May 2022. This gap down might close up and it could be an opportunity for the Walmart bulls to push price higher from the current price of $123.30. We might see price reach a new all-time high 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

June 6, 2022June 6, 2022

Kidney Dialysis Firm, Davita, Loses 2022 Gains

Davita is a US healthcare service provider with a focus on kidney dialysis services. Davita has over 2800 outpatient dialysis centers in the United States which serves over 200,000 patients. They also have 321 outpatient dialysis centers in 10 other countries serving 3200 patients.

Davita was founded in 1979 and it got listed on the New York Stock Exchange in 1995 at $3.50 IPO price. Price rallied for a few years after the IPO but in the year 2000, price fell to $0.72 per share which is Davita’s worst share price ever since it launched on the NYSE. Since then, Davita’s share price has rallied to an all-time high at $136.62 in August 2021. This is over 100X of the lowest ever price.

When price reached an all-time high, RSI also showed that price had been overbought on the monthly time frame. Price fell shortly afterwards to $94.34 in November 2021. The opening price of Davita at the start of the year 2022 was $114.10. Price rallied to the current year’s high at $124.85. However, the bears are back in action as Davita’s share price closed below $100 at the end of May.

As price consolidates in the next few weeks, we might be seeing a price rally above $100. Our analysts are seeing the price of Davita rise to $120 in the coming months. The recent news of Davita’s partnership with Medtronic to form a new kidney tech company worth about $200million could also trigger a rally from a fundamental analysis standpoint. We’ll see!

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

June 2, 2022June 2, 2022

Is Halliburton’s Share Price Heading For A Fall?

Just like many stock prices in Q1 2020, the share price of Halliburton fell from $24.32 at the beginning of the year to $4.33 in the same quarter which was about an 83% loss in its value. This could have been due to the global lockdown from the Covid-19 pandemic.

In hindsight, the all-time high of Halliburton was reached in July 2014 at $74.21. Ever since the price hit that peak on the monthly chart, it has been unable to break that price to the upside. Each time the bulls trigger a rally, the bears respond aggressively and the price is pushed lower. Since the all-time high in 2014, the lowest price Halliburton has hit was the aforementioned $4.33 in Q1 2020.

Halliburton recovered fairly quickly from the Covid hit and began a bull run at the beginning of April 2020. This rally lasted for two years hitting a high of $42.54 in April 2022. In other words, from the lockdown low to this current high, Halliburton has experienced at least 9X in return. The last time Halliburton’s share price hit the current high of $42.54 was in October 2018.

After the high of $42.54 in April 2022, the price fell to reach $33.30 in May 2022. A bounce occurred afterward as the price was able to rally to $42.12 which was on May 31, 2022. There are indications that the bears might push the price lower to $34.

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

May 31, 2022May 31, 2022

Bears To Stay Dominant In NZDUSD Tussle

Looking at the monthly time frame over the last two decades, NZD has continuously gained against the USD. The highest price within this time span was at 0.88396 which occurred in September 2011. After this time, NZDUSD consolidated for another 3 years after which it began to dip leading to the US Dollar gaining against the New Zealand Dollar.

The first major drop in price brought NZDUSD to 0.61967 in July 2015. There was a bounce in Q4 2015 that initiated a bullish run that lasted till Q3 2017. This upward trend took the price to 0.75525 in July 2017 which was the highest price for that year. After this high, the New Zealand Dollar began to lose against the US Dollar. On the downward trend, price went as low as 0.54704 which occurred during the lockdown, in March 2020 precisely.

There was a jump in price in April 2020 and a bullish run ensued for the next 12 months, shooting price to 0.74678 in April 2021 – a gain of about 2000 pips. This price will be the highest in the year 2021. The bears kicked in again, forming an inverse head and shoulder on the monthly time frame.

Since May 2022, NZD has been rallying against the USD and as a result, the price reached 0.65610 which stands as May’s resistance level. The USD in the coming days or weeks might gain against NZD as price might fall below 0.64271 which is about a 100 pips gain in favor of the US Dollar.

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

May 30, 2022May 30, 2022

Coca-Cola Share Price Jumps

After the full takeover of BodyArmor by Coca-Cola in November 2021, the share price of Coca-Cola had a brief bullish run that took the share price from $56.29 in November 2021 to $67.11 in April 2022, which now stands as the current all-time high for Coca-Cola.

In the month of May 2022, Coca-Cola’s share price dipped from the all-time high down to $62.66. Price rallied shortly afterward and the price reached $66.39. The bears counteracted the rally as the price was pushed down to $59.66. $59.66 is the current support level. In the week of May 23rd, the price rallied and the bulls were able to get the price to $64.68 which was the closing price for the week.

This recent bull run might not be maintained as the bears might overpower the bulls and push price lower to reach $60. If the price eventually breaks $60 to the downside, the price might continue to fall further.

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

May 26, 2022May 27, 2022

FTSE 100 Index consolidates above 7000

The FTSE 100 Index is a share index of 100 companies listed on the London Stock Exchange. The total market cap as of April 2022 was £1.996trillion. It was launched on the Stock Exchange in 1984 by the FTSE group at an IPO price of 1650. Over the last three decades, long-term investors in FTSE 100 have seen its price reach an all-time high of 7900 which occurred in May 2018.

Enter COVID-19. FTSE 100 had been ranging pre-Covid after the all-time high in 2018. In March 2020, the price fell as low as 4800 which could have been a result of the slump in stocks across the world during that time. Following the lockdown ease, price rallied back above 7500 which was close to the all-time high of 7900 in 2018.

Since the beginning of 2022, the highest opening price on the monthly chart is 7523 which was in February 2022. The worst close also was in February 2022 at 7388. RSI gave no indication that price has been overbought both on the weekly and monthly charts. Price is currently in the upper region of the Bollinger Bands on the longer timeframes. A breakout to the upside might occur as price looks to hit a new all-time high at a psychological level of 8000.

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