@dayomabinuola, Author at FaithMight

March 15, 2022March 15, 2022

GBPUSD Finds New Support Level

In March 2020, $GBPUSD went as low as 1.14144. After this low, the bulls took over and a rally pushed the price to 1.42614, the highest price between 2018 and now. $GBPUSD opened at the beginning of the year 2022 at 1.35313. Since the beginning of the year, the price has appreciated from the opening price to 1.37512 which is currently the year’s high. The bulls however could not maintain this momentum as the bears hijacked the trend and pushed the pair to a new support level at 1.30020.

This new support level is lower than the opening price of the year which means GBP has lost all it gained this year against the USD. There are indications of a bullish run in the next couple of weeks which signifies that GBP will appreciate against the USD. On the daily time frame, RSI has indicated that the price is oversold. We forecast that the price will rise to 1.34298.

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.

March 11, 2022March 11, 2022

ExxonMobil Reaches New High Since 2016

Any investor who bought Exxon Mobil shares in November 2020, which at the time was $31.07, would have recorded a continuous gain because the $XOM share price has been bullish since the 2020 global lockdown was eased. This bullish run that began towards the end of 2020 was activated by the double bottom in March 2020 and November 2020.

The share price of ExxonMobil didn’t make any significant movement in the year 2021 as prices range for most of the year between $52.14 and $66.09. Exxon Mobil’s share price opened for the month of March 2022 at $78. But the share price shot up to $91 on the 8th of March 2022. This spike is a result of crude oil prices reaching a new high of $130 per barrel.

After the price of Exxon Mobil reached $91, which is the highest since 2016, a gap down occurred and the gap down is yet to be filled. Just yesterday (March 10, 2022), crude oil price dropped 12% as the price fell from $123 per barrel to $108 per barrel. This recent spike in Exxon Mobil’s share price might continue if the crude oil price finds its bullish momentum and continues its rally. RSI has indicated overbought positions at two different times between January and March. In the coming months, a dip to $60 might occur.

March 9, 2022March 11, 2022

Netflix Share Price Continue To Nosedive

Netflix had its IPO in May 2002 at $1.15 per share. In the first few months of going public, the share price went as low as $0.35. The share price ranged for about seven years with a resistance level of $5.80. The price broke the resistance line in 2009 to reach a new high of $43. From a fundamental analysis standpoint, this breakout was partly due to the positive comments coming from their business model change from DVD to streaming.

In the latter part of 2011 after the price reached $43, the share price saw a dramatic slump to $8. It dipped even further in 2012 to $7. However, the candlesticks in the last three months of the year 2012 all closed bullish which for the investors, was a silver lining in the dark clouds. As the year 2013 began, this bullish momentum exploded and the price rallied over the years to an all-time high of $700 in November 2021. This bullish trend was a marathon with few corrections that ran for nearly a decade (from 2012 to 2021). Every Netflix investor smiled to the bank during this period.

However, since the month of the all-time high in 2021, all candlesticks on the monthly chart have closed bearish. As of March 8, 2022, Netflix had lost more than 50% of its all-time high value. In August 2021, we forecasted a fall in the value of $NFLX to $409. Price fell beyond this expected price level. On the weekly chart, RSI has indicated that the price has been oversold since January 2022. This might be an indication that the price could rally in the coming months from its current value of $341 above $615.

March 7, 2022March 7, 2022

Commodities Skyrocket Amidst Russia-Ukraine Tensions

Since the beginning of the Russian military invasion of Ukraine, prices of most commodities have headed in a strong bullish direction. On Monday, 7th of March 2022, the price of Gold hit $2002 per ounce in a gap up. The last time it reached this price was in August 2020. The year’s support line is at $1780 per ounce.

The price of silver reached a new resistance level at $26.1 per ounce. The last time Silver’s price was at this level was in July 2021. The year’s support level is maintained at $21.9 per ounce.

The price of Brent Crude Oil opened for the week at $129 per barrel. It appreciated for some hours to $130.55 after which it began to drop. As of March 7, 2022, the price of Brent Crude Oil is at $122 per barrel. WTI Oil opened at $121 per barrel and rallied up to $130.55 before it began a descent. WTI Oil’s price is currently at $119.

We don’t see the commodity price sustaining this rally over the long-term as the Russian military forces might cease-fire in a few weeks following strong sanctions from the international community of nations. The conflict may also be suspended soon if Putin and Zelensky can come to an agreement.

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 and commodities in your portfolio? Schedule a meeting with us here.

March 7, 2022March 11, 2022

EURUSD Experiences Worst Fall Since Mid-2020

The EURUSD pair opened for the year 2022 at 1.13832. The price rallied for some time until it surpassed the year’s opening price. In the same month of January, the rally halted and the price took a bearish run below the year’s opening price. On the last day of January, the price was 1.12376.

In the first few days in February 2022, EURUSD rallied to the year’s resistance at 1.14949. However, since February 10, 2022, price has been falling reaching a new low on Monday, 7 March 2022, at 1.08112. This new low was last reached on the 18th of May 2020. Looking at EURUSD on the monthly chart, between mid last year and now, the pair has lost about 140 pips.

Indications from RSI showed oversold positions in November 2021 and December 2021. On the weekly chart between Week 3 and Week 4 in February 2022, there was a gap down. Price closed in Week 3 at 1.12711 and opened in Week 4 at 1.11178.

In the coming weeks, the gap down might be filled as EUR gains against the USD and the price could go above 1.12062. Price is currently at the lower region of the Bollinger Bands but we should watch out for the bulls.

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 and currencies in your portfolio? Schedule a meeting with us here.

March 1, 2022March 1, 2022

Etsy Dips To A New Low

Etsy is an American Vintage e-commerce company focused on handmade and vintage items and craft supplies. Etsy was founded 16 years ago and went public about 7 years ago at $16. On the day of the IPO, the share price rose by 72%. After 9 months of its launch on the stock exchange, it took a bearish turn and hit an all-time low at $6.04.

From January 2016, $ETSY share price took off in the bullish wave. In November 2021, Etsy’s price reached a new all-time high at $308.96. That high reflected on the RSI as an “overbought” indication. Following that all-time high, the share price fell and so far, the share price has lost 65% of the price of the all-time in November 2021. The most recent price dip did not indicate oversold on the RSI despite the 65% fall in price. The crisis between Russia and Ukraine has not really affected the US stocks as $ETSY has been appreciating from the new low at $108.53 for the past two weeks. This appreciation could lead to a long-term rally that could see $ETSY gaining 100 points.

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 and commodities in your portfolio? Schedule a meeting with us here.

February 27, 2022March 1, 2022

Beyond Meat Slumps By 9.2% In The Stock Market

Beyond Meat went public in May 2019 and its IPO price was $45. From the month of the IPO to July 2019, which was under 90 days, Beyond Meat’s share price shot to $240 which became its all-time high. Following the dramatic surge in share price, Beyond Meat lost its momentum and took a downward slope over an 8-month period to $48 in March 2020.

Despite the share price almost falling back to the IPO price, the bulls were not giving up on Beyond Meat just yet, and so the bulls became active and it led to a rally in price to $220 in January 2021. The bears have been aggressive since then and for 12 months straight, Beyond Meat’s share price has kept falling.

On the 25th of February, Beyond Meat’s share price closed for the first time ever below the IPO price at $44.49. RSI has been oversold since December 2021. Taking into consideration the RSI readings and other technical indications, the bulls might become more aggressive in the coming months and the price may rally above $154 which is about 3X the current price.

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 and commodities in your portfolio? Schedule a meeting with us here.

February 23, 2022February 24, 2022

Uncertainty In Gold Price Movement Amid Russia-Ukraine Tensions

Ever since the all-time high for Gold was reached in August 2020 at $2074 per ounce, the bears have been more active in $XAUUSD’s price action. Before the all-time high in 2020, there was high volatility in the price of gold. For example, the lowest price of $XAUUSD in August 2018, August 2019, and August 2020 were $1,160, $1,400, and $1,865 respectively.

Since the all-time high in 2020, the price has maintained a support level at $1,677 even till now. The current resistance level is at $1,917 which has been active since 2021. As at August 2020 when the price of $XAUUSD reached an all-time high, RSI indicated that the price was overbought which possibly was the cause of the price dip at that time.

Since the beginning of 2022, Gold has rallied. This week, Gold hit $1,912, the highest point since the year 2022 began. It isn’t certain that Gold can keep up this rally for much longer as the rally is linked to investors’ panicky response to hedge their investments in precious metals, which are commonly considered to be safe havens during geopolitical crises.

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 and commodities in your portfolio? Schedule a meeting with us here.

February 17, 2022February 17, 2022

Fastly Loses Big

Fastly is an American cloud computing services provider, which is designed to help developers extend their core cloud infrastructure to the edge of the network, closer to users. The stock had its IPO in the spring of 2019. After surging in its debut and eventually doubling from its IPO price in the early fall, shares went down over 35% from their highs in the fourth quarter, putting many post-IPO investors in the red. $FSLY stock started trading at $21 per share. Fastly said it had sold 11.25 million shares at $21 each, raising $180 million. Fastly investors are back to the initial stage.

Before the current downturn of Fastly, the IPO investors made over 6x since its IPO. The all-time high of Fastly was in October 2020 at $136.45. The price of Fastly is currently trading at $20.27, a few points below the IPO price of $21.50. At the beginning of this week, $FSLY opening price was $27.70. Fastly has lost over 27% of its value from the beginning of the week. Until certain measures are taken before $FSLY share price could rally, though a gap-down has occurred which might be filled soon. Since the January 2021 monthly candlestick finished with a bullish one, only June and October monthly candlesticks finished on a bullish note, all other ones have been bearish.

February 14, 2022February 14, 2022

The Loonie Might Appreciate Against The Buck

At the beginning of the global lockdown in 2020, the bucks gained massively against the Canadian dollar as prices moved from the ranging market between 1.29582 and 1.33864. This price range was before the lockdown, which lasted for more than 6 months. A breakout of the range occurred in February when the price rallied to 01.46710. That rally was about 150pips. The price of $USDCAD was last reached 1.46710 in January 2016 until the rally before the lockdown. After the lockdown easing, the loonie gained against the dollar which made the price reach 1.20193 in June 2021 after 6 years.

As the $USDCAD maintains support at 1.20103 since last year, a bounce has occurred as the price reached 1.29658 from the support level. Though RSI shows price has been oversold, the bears could still push lower to 1.24754 from its current 1.27472. RSI shows the price has been oversold on the 4hr Chart. Looking at the monthly time frame, the price has been ranging for about 6 months with the bulls more active. The bears might take charge in the next trading days.

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 and stocks in your portfolio? Schedule a meeting with us here.