@dayomabinuola, Author at FaithMight

March 6, 2024March 6, 2024

Gold’s Price Reaches An All-Time High

The commodity price has been increasing for about a decade despite the uncertainties in the financial market. The lowest price of XAUUSD was $1048 in December 2015. The price has rallied to $2141 per ounce in December 2023. Unlike many other asset classes during the lockdown, the price of gold rose to $2074 per ounce in September 2020. The bears took over as price fell to $1622 in September 2022, which stands as the lowest price since April 2020.

At the time price of XAUUSD was at $2074, RSI was at an overbought position. The price of Gold broke out of the previous resistance level to reach $2141, which currently is the all-time high of gold. There was a price retracement in January and February 2024 that made price fall to $1985 before price rallied again above $2000 in the last week of February. As a result of the bullish momentum, the price of gold might break a new all-time high at $2150 in the coming days or 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 commodities in your portfolio? Schedule a meeting with us here

February 22, 2024February 22, 2024

Nvidia Investors Continue To Smile To The Bank

Nvidia is an American multinational corporation and technology company headquartered in California. It is a software and fabless company which designs graphics processing units (GPUs), application programming interfaces (APIs) for data science and high-performance computing or the mobile computing and automotive market. Nvidia is also a dominant supplier of Artificial Intelligence (AI) hardware and software.

Last week, $NVDA replaced Tesla as Wall Street’s most traded stock, adding to its prominence after becoming the third-most valuable U.S. company and showing more evidence of how central AI-related bets have become to investors. About $30 billion worth of Nvidia shares changed hands daily on average over the past 30 sessions, pulling ahead of Tesla, which averaged $22 billion per day over the same period.

At the beginning of 2024, Nvidia’s opening price was $492.21. Prior to that time, the all-time high of $NVDA was at $505.70. On the 8th of January, a breakout to the upside occurred as price rallied to the current high which is $746.51. The all-time high of $NVDA was reached on the 12th February 2024. Nvidia Investors are smiling to the bank as the stock rose by 50.2%. Nvidia might lose its bullish momentum to the bears as price could fall below $600 in the coming weeks. The stock market could be largely affected.

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 in your portfolio? Schedule a meeting with us here

February 14, 2024February 14, 2024

Amazon Price Reaches 2024 High, Jeff Bezos Sells $2billion Worth of Shares

As of February 2024, Amazon has a market cap of $1.751 Trillion. This makes Amazon the world’s 6th most valuable company by market cap. The market capitalization, commonly called market cap, is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure how much a company is worth. This year, $AMZN crossed the borderline of $1.7 Trillion market cap for the first time.

The current price of $AMZN as of the time of this publication is at $168.64. Recently, Jeff Bezos sold roughly $2 billion worth of his Amazon stock according to financial filings. Despite this latest divestment, Bezos retains a significant stake in Amazon, holding approximately 964.2 million shares and representing 9.3% of the company’s outstanding shares. While stepping down as Amazon CEO in July 2021 and handing the reins to Andy Jassy, Bezos remained chairman. He has steadily transitioned his focus towards his space venture, Blue Origin, while gradually reducing his active role in Amazon’s management.

In the coming weeks, the price of $AMZN could fall to $120 as a result of Jeff’s huge sales of the shares.

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 in your portfolio? Schedule a meeting with us here

February 1, 2024February 1, 2024

Walmart Had A Gap-Up, As They Prepare 3 for 1 stock Split

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States. Walmart reached an all-time high at $170 per share on 15 November 2023. After the all-time high, there was a gap down, which made the price of $WMT reach $158.69. The price continued to fall to $149.55 on 11 December 2023, which is currently a support level.

From the support level in December 2023, price rallied to the 2024 high at $167.95. On the 30th of January, Walmart announced that it will conduct a split of its outstanding shares of common stock at a ratio of 3:1. That same day, the price of $WMT closed at $165.64. The opening price the following day was $167.95 which indicated that a gap-up had occurred. The stock split is part of Walmart’s ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach. We might see the price of $WMT at $150 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 stock in your portfolio? Schedule a meeting with us here

January 24, 2024January 24, 2024

Against All Odds, SPX Hits A New High

S&P 500 was founded 66 years ago. It is traded in 3 exchanges including NYSE and NASDAQ. The S&P 500 is used to track the best 500 traded companies in the United States. The market capitalization of S&P 500 as of December 29, 2023, was $42 trillion. SPX made a historical move from the lockdown low of $2196.55 to the previous high at $4864.61. That was an over 120% increase in a 2-year bullish run.

This month makes it two years the S&P 500 price hit a new high. A breakout to the upside occurred on the 19th of January which has made SPX’s price hit a new high at $4865, the rally has continued as SPX continues to hit new highs as price is currently at $4,891.

The bullish momentum for SPX might be cut short soon as the bears might push price lower to $4133. On the daily chart, RSI has shown the price has been overbought multiple times since November 2023. As a result of the new high in January 2023, the RSI has hit the overbought position.

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 indicies in your portfolio? Schedule a meeting with us here

January 18, 2024January 18, 2024

Oil Price: The Attacks On The Red Sea Can Affect Global Oil Trade

The on-going war between Israel and Palestine has gone beyond land borders, as attacks are now carried out on the sea. A lot of shipping companies have temporarily stopped operations in order to reduced losses. Attacks by the Yemen’s Houthi rebels on ships in the area since November have impacted companies and alarmed major powers, in an escalation of Israel’s more than three-month war with Hamas militants in Gaza. The group says it is acting in solidarity with Palestinians.

About 12% of world shipping traffic transits the Suez Canal via the Red Sea. According to reports, vessels supplying liquefied natural gas (LNG) from Qatar are among the many ships forced to sail around Africa via the Cape of Good Hope. This diversion can add about nine days to the normally 18-day trip from Qatar to northwest Europe. The value of the items transported will be increased as a result of the diversion. This could eventually lead to higher inflation if the attacks are not curtailed.

The opening price of WTI Oil price in 2024 was $72.17. On the second trading day of the year, the price of oil fell to $69.33 per barrel making it the lowest price this year. A bounce has occurred as the current price of oil is at $72.87. Since the high in October at $94.78, the price of crude oil has been falling. We might be seeing scarcity of oil in some places across the world. The price of oil could further drop to $68.67 in the coming days but that could just be a precursor to a bounce that will eventually lead to the increase in the price of crude oil in the long run.

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 oil in your portfolio? Schedule a meeting with us here.

January 11, 2024January 11, 2024

The Price of Gold Reaches An all-time high Before 2023 Ended

The highest price level gold has reached since the lockdown has been at $2076. The lowest price level was t $1620 between September 2022 and November 2022. The rally in December made the price of XAUUSD reach $2150. RSI on the daily chart shows price has been overbought at two different positions. The bulls were not able to maintain the rally as price has fallen to $2028 as of the time of this writing.

In the last one decade, the price of gold has rallied from the lowest point of $1051 in December 2015, to the highest point at $2150 in December 2023. As the bears are beginning to push price lower, we might see the price of gold reach $1848. Since the beginning of this year, the price of gold has been falling, which could be an indication of the bears taking full control of the commodity. The price on the daily chart has crossed to the lower region of the Bollinger bands.

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 gold in your portfolio? Schedule a meeting with us here.

January 4, 2024January 4, 2024

Bitcoin Is About To Reach $1 Trillion Market Capitalization…Again

The first decentralized cryptocurrency, Bitcoin, has paved the way in the recent crypto rally. An essential characteristic of the Bitcoin protocol is the strict limit on the number of bitcoins that can be created: it is stipulated that no more than 21 million bitcoins can ever be created, and as of 10 October 2022, 18,925,000 Bitcoins are in supply.

In February 2021, Bitcoin hit a $1 trillion market cap for the first time. The market cap of $1 trillion was later surpassed as Bitcoin hit an all-time high of $69,200. After the all-time high was reached, the year 2022 was a bearish year for Bitcoin investors and traders as price dipped to $16,614. The year 2023 saw a bullish trend for Bitcoin as the year’s opening price was at $16,614 and the closing price was at $41,952. That is approximately a 156% increase in price. As of the time of this writing, the current price of Bitcoin is at $43,133 with a market cap of $845 billion.

As it is expected to see a price rally in the coming weeks, we might see the price of Bitcoin reach a new high in 2 years as price could reach $46,000 psychological level. Though RSI has shown that price is overbought on the weekly chart, this might not reduce the momentum of 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 cryptocurrencies in your portfolio? Schedule a meeting with us here.

December 4, 2023December 4, 2023

Coinbase Reaches 2023 High After Massive Fall in Price

Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform. The company was founded in 2012. Coinbase had its IPO in April 2021 at $327 per share. The major gains that $COIN IPO investors got was on the rally of Day 1. The all-time high of $COIN was at $420 which was also on that first trading day.

Each time the price of Coinbase tried to rally, the bears pushed price lower. The price was pushed down to $32 in December 2022, which currently stands as the all-time low. The fall from the IPO price in 2021 to the all-time low in 2022 showed that Coinbase lost 90% of its value.

As of November 2023, Coinbase has a market cap of $29.91 Billion. The opening price of $COIN in 2023 was at $36.73. The rally this year has made the price of Coinbase reach $131. The $131 price level is currently the 2023 high. We might see price fall below $100 in the coming weeks despite the 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 companies in your portfolio? Schedule a meeting with us here.

November 21, 2023November 21, 2023

Tesla’s Share Price Might Fall Below $200

The American company that manufactures and sells electric cars, as well as power storage and photovoltaic systems, Tesla Inc., is currently ranked the 9th biggest company in the world by market capitalization. The current market capitalization as of yesterday, November 20 2023, was $748.95billion. In the last one year, the value of Tesla has risen by 40.35% with the current share price at $235.60. It has been a bullish year for the $TSLA stock. From the year of IPO when the price of Tesla was $1.09 to the current price at $235.60, it has been a profitable deal for investors.

The adoption rate of electric cars in the world has increased over the past few years as it is receiving widespread acceptance across many nations. This month of November, the value of $TSLA has increased by 17.31%, as price has rallied from the month’s low of $197.85. Price of $TSLA is currently below the trendline as we might see price fall in the coming days. On the 4hr timeframe, RSI has indicated that the price of Tesla might fall soon. The next fall might see the price of $TSLA fall below the psychological level of $200.

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 companies in your portfolio? Schedule a meeting with us here.