@dayomabinuola, Author at FaithMight

May 3, 2019January 22, 2020

Google Recently Had A Huge Gap Down

Our last analysis on Google shows the share price was going to rise. . Price was able to go beyond the expected resistance level of 1123.23. The bullish movement from last year was able to reach 1288.30 on the 29th of April 2019. At the last trading day of April, a gap down occurred which confirmed the beginning of a downtrend. RSI at two different occasions between March and April had shown overbought positions.

Ichimoku is yet to show a reversal, but shows the $GOOG bulls are still in charge. The gap down which occurred made price of $GOOG on the Bollinger band to cross to the lower region of the chart which is presently in the Ichimoku cloud. The share price of $GOOG is currently at 1168.89. Now that price has crossed to the lower region of the Bollinger bands, this could make price to continue to fall more to 1106.41. $GOOG lost about 100points after the gap down. As we await price to continue the downward trend, it might still lose 150points more.

April 30, 2019January 22, 2020

Netflix Might Be Ready For A Dip in Price

The Netflix stock price in 2019 has been majorly characterized with a stable market price. This occurred as a result of an uptrend that began at the latter part of December 2018. Initially at the beginning of the year, when the price of $NFLX rose, it reached an overbought region on the RSI. Instead of the price of $NFLX to fall, price continued to go upward at a very slow pace. Since February, price has consistently been ranging on the daily chart between 343.81 and 382.87.

For the most part of 2019, the candlesticks have maintained the higher region of the Bollinger bands. Despite the trendlines being broken to the downside late last year, the price of $NFLX has ceased to fall. The future of Ichimoku does not show an actual direction of the market. Nevertheless, $NFLX might be losing its bull power temporarily. Price of $NFLX could fall below 351 in the coming days from its current 371.83.

April 24, 2019January 22, 2020

Exxon Mobil To Continue Its Trend

Undoubtedly, the year has been very good for the Exxon Mobil share price. Though in 2018, it was a rowdy chart with a majorly ranging market. The year has all been bullish for the $XOM from 71.25 to its current 82.90. The last time RSI showed either overbought or oversold region was in July 2017. The first resistance level has been reached at level 81.88. There might have been several looks of a reversal in price but as it appears, the bullish movement might continue.

We might expect price to reach 88.16 which is the second resistance level. Unlike last year, there is a lower number of ranging markets in the $XOM market with the bulls more active. The Ichimoku’s future has already shown a bullish signal which might be an indication for the bulls to continue trading. If price touches the second resistance level, by this time, the RSI might show an overbought position.

April 19, 2019April 19, 2019

Bitcoin Bulls Are Becoming More Active

Almost all hopes were lost by investors when Bitcoin price took a dip. The year 2018 was hugely bearish for $BTC. $BTC’s dip was over 84% in a single year. In 2019, however, there have been low activities in the Bitcoin market. But in the last three months, the Bitcoin bulls are beginning to drive the market upwards. This recent upward movement might push the prices of alternative coins up. The price of $BTC on the Bollinger bands from the upper region of the bands is yet to cross to the lower region. A reversal might have just occurred because a breakout from the trendlines have occurred.

RSI is yet to show an oversold from the selloff which occurred last year. Ichimoku is yet to give a signal for a bullish move. With all indications, the price of $BTC might reach 10000 from its current 5,241. This might amaze you because hopes have been lost in the past few months. The long trendlines have been broken to the upward direction.

April 19, 2019January 22, 2020

Coca Cola Share Price Remains Bullish

Coca Cola Share Price Remains Bullish
A gap down occurred mid February causing the price of Coca Cola to plunge. The plunge did technically complete the M sign. The M sign is a trading pattern which after completion leads to a reversal. Nevertheless, price of $KO has been able to maintain the support level at 44.58. And price, has since the plunge, began an upward movement. This movement is quite slow but the bulls are heavily taking charge of the $KO market.

Ichimoku has refused to show a bullish signal to complement this uptrend. Price of $KO was able to close above the cloud which might indicate a continuation of the uptrend. RSI has been able to show an oversold position in the daily chart. Also, price of $KO has been able to cross to the upper region of the Bollinger bands. This might eventually make $KO share price to move just above 49.00 from its current 47.29.

April 16, 2019January 22, 2020

The Yen About To Appreciate Against The American Dollar

As the Yen is yearning for a rise in price against the US dollar, the US dollar was able to gain more than the Yen in the last one week. For the most part of 2019, the American dollar has gained about 4.914% against the Japanese yen, which signifies a bullish movement for the $USDJPY. Price of $USDJPY has failed to touch the upper line of the Bollinger bands despite the bullish movement. We have seen at two different instances that price of $USDJPY touched the resistance level line on the chart. Technically, it shows a double top, a strong indication of a reversal.

A doji has been formed after price touched the resistance level. Before the correction occurred on the 11th of April, price of $USDJPY touched the Bollinger band’s middle line. On the RSI chart, the price of $USDJPY did not show the overbought position on the daily chart. Also, the Ichimoku’s future still shows bullish strength, meaning the bulls are stil very much active. However, the trendlines have been broken to the downside on the 8th of April before a correction occurred. The expected support level is 109.517 from its current 111.932.

April 13, 2019January 22, 2020

Bank Of America Failed To Break The Support Level

In December last year, Bank Of America share price was as low as 22.73. As the American market went down towards the end of 2018, $BAC also joined in the dip. After this dip, price rallied to the 26.77 level, which initiated to a strong support. There was a gap up on the 16th of January which made price to reach 29.64. After this gap up, a correction has occurred but the price of $BAC was not able to break the support level at 26.77.

The correction after the gap up made price to cross to the lower region of the Bollinger bands. The trendlines have been broken and indications show a bullish takeover begins. Though we expect the $BAC bulls in the market, Ichimoku has not shown a bullish signal but showed a bearish signal instead. On the daily chart, price of $BAC is overbought. Price being overbought might be deceptive for the bears to get into the market. Currently, price of $BAC has been able to cross to the upper region of the bands. So price of $BAC could reach the next resistance level at 30.77 from its current 28.95.

April 13, 2019January 22, 2020

Canadian Dollar Might Gain Against The American Dollar

A major breakout occurred from the bullish trend between October 2018 and January 2019. After this breakout, the price of $USDCAD has been ranging on the daily time frame. At the beginning of 2019, the $USDCAD began a bearish movement. This bearish takeover lasted until the first trading week of March before price crossed over to the upper region of the Bollinger bands. On the 19th and 20th of March, price of $USDCAD touched the Bollinger band middle line from the upper region which is an indication for a reversal.

Since December 2018, RSI has indicated the overbought position has been reached. The future of Ichimoku still shows the bullish strength is still active though price is yet to cross to the lower region of the bands. Price of $USDCAD could reach 1.30445 from its current 1.33586. The battle between the $USDCAD bulls and bears in 2019 has been a tough one after price reached the overbought position in 2018. Price of $USDCAD might begin a bearish movement soon and a breakout of the expected support level might push price further downward.

April 4, 2019January 22, 2020

Boeing Has Lost Its Bullish Strength

The share of price of Boeing fell after two Boeing planes crashed in the past few months. In 2019, Boeing has been bullish from 315.80 and reached an all time high this year at 447.12. A gap up that occurred in the last few days of January has been filled in March. The price of $BA has been on the upper region of the Bollinger bands throughout the year until mid-month of March. The volatility of $BA in 2018 was quite low until this year.

Throughout February, the price of $BA was overbought on the RSI. The future of Ichimoku has already shown a trace of downtrend. With the analysis using the trendlines, price of $BA could begin to fall from its current 393.26 to 333.71. The price of $BA has crossed to the lower region of the bands. If price of $BA breaks to the downside to reach the expected support level of 333.71, a breakout of the support level could make the price of $BA to continue to move downward.

March 27, 2019January 22, 2020

Mastercard Is Currently Overbought

Mastercard is currently overbought after reaching an all time high for the stock. The new resistance level is at 235.66. The year 2019 has started on a bullish trend from 185.42 to the resistance level of 235.66. The overbought position for $MA was reached first at the beginning of February 2019. Since this time, price has continued to rally in the overbought region which could lead to a reversal on the daily chart.

Ichimoku is currently showing the bulls are in charge of the $MA market. RSI also shows price has been overbought for over a month. As we expect a bearish trend, price of $MA might go below 200. Price is yet to cross to the lower side of the Bollinger bands. A breakout has occurred from the trendlines but price is still in a range. Before the end of April, the bearish trend might become more dominant.