@dayomabinuola, Author at FaithMight

January 5, 2022January 6, 2022

S&P 500 And Dow Jones Reach A New All-Time High

In our November article on S&P 500, the price had a correction as our analysts forecasted that $SPX could reach a new all-time high at $4800. The $4800 forecasted price was surpassed as the most recent all-time high is at $4824.53. Many stocks in the SPX appreciated around this time. SPX has been able to make 1X since the pandemic lowest price at $2210. The current price of SPX is $4793.53 after the price closed yesterday lower than the all-time high at $4824.53.

The new variant of the coronavirus named ‘IHU’ detected in France might likely pose a threat to the index, which might lead to a price fall. A sell-off might occur which could make the price of SPX fall to $4384.23. Despite the new all-time highs in the past months, SPX on the RSI has shown that price has been overbought multiple times since April 2021.

Dow Jones on the other hand made almost 1X the pandemic low at $18366. The Dow Jones recorded a new all-time high yesterday, being the second trading day of the year. There is no indication of a possible reversal. Early in December, our analysts forecasted the Dow Jones to reach a new all-time high. The new all-time was reached yesterday at $37,000. A correction might take place.

As SPX had a price fall on the second trading day of the year, Dow Jones extended its rally to a new all-time high at $37,000. The only threat to the continuous rally of the $DJI could be the new variant ”IHU’, which health officials found it has 46 mutations. These mutations are more than the omicron. The price still maintains the upper region of the Bollinger bands. The $DJI might continue its rally for the next few days or weeks.

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January 5, 2022January 5, 2022

Apple Market Cap Hits $3Trilliion

Apple becomes the first company in America to reach the new milestone of $3Trillion Market Cap. The technology company has done tremendously since the pandemic. The pandemic lowest price was $53.32. The current price stands at $179.70 which is a day after the all-time high at $182.93 was reached. Therefore, investors have gained about 3x since the pandemic low. Since Tim Cook became the CEO of Apple on the 24th of August 2011, there has been a massive rally in the share price of Apple. He has been able to achieve about 10X in the last decade. The market cap has jumped from $340billion to $3Trillion. Apple investors have been enjoying a jolly ride due to good leadership.

In December 2021, our analysts concluded that the price of $AAPL should reach a new all-time high, which might eventually take the market cap to $3Trillion as a result of continuous profit-making. Going forward, a correction might occur which leads to the market cap dropping from $3Trillion. Apple’s share price might drop about 18% in the coming weeks, which might eventually bring the share price down to $149.07, a level below the September 2021 all-time high of $157.55. Since the latter months of 2019, the price of Apple has been overbought multiple times, as the price only had a few corrections. Meanwhile, there is no indication of price reversals.

January 3, 2022January 3, 2022

Evergrande Ended 2021 On The Worst Price Ever

The Evergrande is the second-largest real estate company in China. The Chinese Evergrande did its IPO in November 2009. The share price ranged between $1.93 and $8.45 between the years 2009 and 2017 until a breakout occurred in May 2017 when the price broke the previous resistance level of $8.45. Evergrande had the best year in 2017 as the price at the beginning of the year was at $5.01 which later closed at $26.96 at the end of the year, after the price reached an all-time high at $32.50 in the same year. Since the all-time high was reached at $32.50, the chart has been showing lower highs and lower lows.

In the early months of the global lockdown in 2020, Evergrande’s share price dropped from $21 to $10 before recovery began which later took the price to $28.01 in 2020. Since this height was reached, the bears have been more active as the price of Evergrande closed at $1.59 in 2021, which is lower than the IPO price at $4.01. Since the price showed that the price has been overbought in 2017, the price since then has fallen from the top. The chart has shown that in the last 5 months of 2021, the price has been oversold with 5 dojis.

Since the second-largest real estate in China has been having issues with debt in 2021, there were huge selloffs. RSI is currently showing that the price is oversold and the candlesticks are in the lower region of the Bollinger bands. If Evergrande gets a bailout, the price could reach $20 in the next few months.

December 15, 2021December 16, 2021

What Is The Fate Of Pepsico Investors?

The share price of one of America’s multinational food, snack, and beverage corporation, PEPSICO, hit a new all-time high at $171.47 on the 13th of December, 2021. Just like many other stocks, PepsiCo had a dip during the global lockdown in 2020. Price fell from the February 2020 all-time high at $147.24 to $101.54, which was a 31% loss in value. As countries began to ease the lockdown, the price of $PEP recovered over 90% of the losses during the lockdown. Despite the lockdown, in 2020, Pepsico made $70.37 billion in revenue surpassing the 2019 revenue of $67.16 billion. After the lockdown was eased, for the most part of 2020, the price of $PEP was in a range until price broke out to the upside in December 2020.

Price has maintained the bullish trendline since the ease of lockdown in 2020 . There are a few times that price had a correction before the rally continued. The 4hr chart has a pattern of higher highs and higher lows since the lockdown. A reversal might occur after a new all-time has been reached above $171.47. The holidays are coming and investors might decide to take out some cash from investments. This might negatively affect the price of $PEP. Price is currently at $169.31. A correction might devalue the share price to $152, which is the next support level.

December 14, 2021December 15, 2021

Amazon’s Price in a Range

Amazon is an American multinational conglomerate that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. The stock has done well for investors in the last decade, as an investment in $AMZN has generated over 19X. The share price of Amazon has maintained a resistance level at $2044 since September 2018, but the price broke out the resistance level to the upside in February 2020 to a new all-time high at $2913.18. After the break-out, there was a price correction before a major rally began to a new all-time high at $3770.49 and the support level is maintained at $2883.53.

Since a support level was formed at $2883.53, the price of $AMZN has failed to break the support level to the downside as the price has been ranging between the support level and the all-time high at $3770.49 since mid-2020. Unfortunately, an Amazon warehouse was hit by a tornado, this week killing six, and an activist group targeting Exxon. In July and November of this year, $AMZN has formed a double top, could this be an indication of a correction. Using Amazon to shop could be a major option for shoppers if covid cases increase with the new variant ‘Omicron’, as the lockdown may be re-imposed.

RSI has shown that price has been overbought since the ease of lockdown in 2020. Despite the rally around to the all-time high at $3770.49, the price has crossed to the lower region of the Bollinger bands this month. For long-term investors, Amazon could be a good deal, just as it has done in the last decade.

December 10, 2021December 14, 2021

Apple Investors Continue To Make Profit

This week is the best week so far for Apple since the beginning of the year. The share price appreciated on Wednesday by over 2.8%. It has been up 8% this week and about 6% this month. The supply chain shortages are getting worse though as Apple completely stops iPhone production in China for the first time in a decade.

Just like many other stocks, Apple’s share price dipped during the lockdown from then $81.53 to $53.65, which was a 34% loss in value at that time. As the lockdown was eased last year, the price has continued to rally from the lowest price level at $53.65 to a new all-time high this month at $176.65. That is over 2X gain since the ease of lockdown. The last year has been the best year for the Apple investors as more gains are made. The current market cap for Apple is $2.86 trillion. Apple could be the first company to reach the $3trillion market cap.

Now that Apple has completely stopped the production of Iphones in China, this might lead to the share price taking a break from the rally. Apple has been sued over Apple watch defect that poses hazards to customers. RSI has shown that the price has been overbought twice between November and December. Price is currently in the upper region of the Bollinger bands, a correction might occur if the Omicron virus poses a major threat to the global populace.

December 7, 2021December 12, 2021

Price Of Dow Jones Heads To A New All-Time High

During the sharp drop in the price of Dow Jones in 2020, which was majorly caused by the global lockdown, the price fell from $29,473 to $18,000. Since the ease of lockdown, the price has continued to rally as most of the months in 2021 had a new all-time high. There was a breakout of the previous all-time high at $29,473 towards the latter part of the year 2020. Since this breakout, the bulls have been relentless. The opening price of Dow Jones at the beginning of the year was $30,489. Price has been able to reach a new all-time high at $36,598. There was a major dip in November 2021 when the price from the all-time high at $36,598 to $34,000. Then a rally occurred which is a result of a gap up. The 4hr chart clearly shows the price is currently in the upper region of the Bollinger bands.

There are likely possibilities of price reaching a new all-time high above $36,598, which could lead to a breakout of the resistance level. Almost all losses last month have been recovered with December’s price reversal. The gap down from $35,800 to $34,800 in November 2021 has been covered up with this bullish run this month. RSI was able to show that the price had been overbought in the previous all-time high in November 2021. As the price dips in November before consolidating, RSI also shows that price has been oversold, which was an indication of a price reversal. On the daily chart, the candlesticks crossed to the lower region of the bands in November as the price fell. Yesterday’s candlestick closed in the upper region of the Bollinger bands. This move could push the price to the next psychological level at $37,000.

December 6, 2021December 8, 2021

Why Did Pfizer Lose 5% In Value?

Pfizer is an American multinational pharmaceutical and biotechnological corporation. The company was established in 1849 and went public at the beginning of 1968 at an opening price of $0.42. Over the years, the share price of Pfizer has appreciated in several multiples. The Pfizer investors have enjoyed a rally over the years as the price keeps appreciating. The previous all-time high at $44.01 was reached in 2018 and maintained until the price broke out to the upside to new all-time highs in August 2021 and December 2021 respectively. Pfizer was licensed to produce the vaccine as a result of the necessity caused by the spiking cases of coronavirus across the world. Despite the share price of Pfizer going low as $26.37 in 2020, after it reached the all-time high in 2018 at $44.01, millions of persons worldwide got vaccinated with the Pfizer vaccine which must have led to the share price appreciating.

The most recent all-time high of $PFE was reached in November 2021 at $55.83. Some scientists might have been saying that the Omicron variant of the coronavirus is of less concern. Just like many vaccine-producing companies, $PFE’s share price dropped 5.14% yesterday. Despite a few lockdowns across the world and some countries restricting flights from some other countries, there seems to be a correction occurring with the price of $PFE. The share price of Pfizer might drop to $41.93 which is around the previous support level at $41.10, as some scientists have said the Omicron variant is not of major concern.

December 3, 2021December 7, 2021

Will The Name Change of Square To Block Affects Its Share Price?

After 6 years of Square being listed on the stock exchange, the CEO Jack Dorsey, who owns 24.4% of the company, changes its name to Block. The main reason for changing the name is for expansion as the company intends to focus on new technologies such as blockchain. Before now, Square was known for digital payments with a focus on point-of-sale terminals and auxiliary equipment to process debit cards. Since its IPO in 2015 at $9, the share price has done 31X as it reached an all-time high in August 2021 at $289.05.

The lowest price of $SQ during the lockdown was $38.02. As the lockdown eased up, price appreciated above $200 before the end of last year. The price movement of $SQ in the last 11 months has been between $192.15 and $289.05. The range in the weekly and monthly chart has been broken to the downside this week as the price reached $185.72. $SQ is currently not showing an indication of a price reversal to the upside. Since the day Square has been changed to Block, the price of $SQ has gone south.

December 1, 2021December 3, 2021

Zoom’s Share Price Falls Further

Zoom’s investors had a good return in 2020 after the price opened at $67.23 to reach an all-time high of $588.21, which is over 8X. During the lockdown, many meetings and conferences were held virtually as Zoom was the favorite of many organizations. However, 2021 is the worst year for $ZM investors since its IPO in 2019. The opening price for Zoom this year was $337.07. As offices began to open due to the mass vaccination of people in different countries across the globe, the price of Zoom began to fall. The hope that showed in July 2021 as a result of the monthly candlestick was dashed away when all gains were lost in August 2021.

The current share price of Zoom is at $218.79 which shows that Zoom investors have lost 35% from the opening price of this year. A breakout to the downside has occurred from the August 2020 support level at $233.23. Is this going to be a continuous downtrend? The next few weekly candlesticks will determine the next direction. The share price of Zoom is currently at the lowest since June 2020 at $211.41. There are tendencies that the share price of Zoom might rise to $400 as many countries begin to lock their borders due to the new cases of the Omicron variant of the coronavirus. As countries begin to lock borders, this might eventually affect the workspace. Companies might fall back to the remote ways which worked during the lockdown.