@dayomabinuola, Author at FaithMight

February 13, 2023February 13, 2023

Tesla Reaches 2023 High

Tesla is an American multinational automotive, artificial intelligence and clean energy company. As of February 2023, Tesla is one of the most valuable companies in the world, 7th position to be precise. The market cap of Tesla stands at $655.98 Billion. The opening price of Tesla in 2022 was $382.76, but the year wasn’t favorable to investors as the share price closed at $123.51 at the end of 2022 which was a 68% loss in value.

2023 opened for Tesla at $118. On the first trading day of the year, price fell to $102.70. The last time price fell to this point was in August 2020. $102.70 currently stands as the support level for the year and also a 3-year low. On the 9th of January, a bounce from this support level started and Tesla’s share price has since hit the $200 psychological level and surpassed it. $TSLA is currently at $196. Our analysts think price could continue to rally for the next few weeks as price could reach $300.

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

February 8, 2023February 8, 2023

Apple Share Price Continues To Rally

The American multinational technology company, Apple has shown a sign of relief from the bearish turn in the second half of 2022. Apple was founded about five decades ago. Over the years, the Apple team comes with new advancement in technology regularly. As of 2022, Apple has over 164,000 employees with a revenue of $394.33 billion. Apple’s market cap is currently $2.45Trillion and its current share price is $154.65.

According to data, Apple is the world’s most valuable company by market cap. In the last one year, Apple has lost 11.65% in its value. The drop in price of $AAPL started at the beginning of the 2022, which coincidentally was the day the all-time high was reached at $183. Price fell to $126.41 in December. Which was the lowest price in 2022. Price was able to bounce to $147 in January 2023 from the 2022 low of $126.41. This rally might continue until price reaches the psychological level of $160 in the coming weeks.

February 1, 2023February 1, 2023

Shopify Rallies To A 9-Month High

Shopify is a multinational e-commerce company headquartered in Ottawa, Canada. As of 2021, the revenue of $SHOP was $4.61 billion with a total number of 10,000 employees. Shopify’s IPO took place on May 21, 2015, on TSX and NYSE at $17 per share. Right from its IPO, Shopify investors have enjoyed a rather smooth rally for years up until its all-time high at $176 in November 2021. After the month of the all-time high, the next 7 months closed bearish on the monthly charts.

In October 2022, price had dipped as low as $24.05 as a result of the bearish run from the all-time high. That was over 86% decrease in value. Since 2023 opened, Shopify’s share price has been rallying. This rally has taken price up to a 9-month high. Currently, price is at $47.33. This rally might be for a short period of time as the bears might push price lower below $23 in the coming months. The weekly chart shows price is oversold but the monthly chart shows price has been overbought. The bullish momentum might be counteracted with an aggressive bearish turn.

January 26, 2023January 26, 2023

Nvidia Rallies To Previous Resistance Level

NVIDIA is an American multinational technology company based in California, USA. The company designs graphics processing units. It was founded on the 5th of April, 1993 by Jensen Huang, Curtis Priem, Chris Malachowsky. As of 2022, NVIDIA made a yearly revenue of $26.91 billion. As of that same year, NVIDIA had a staff strength of 22,473.

The lowest value of NVIDIA since August 2020 stands at 108.70, which also stands as the support level of 2022. The year 2022 was not a good year for NVIDIA investors as price opened at $298.12 and closed at $146.03 – a 39% loss. There seems to be relief as price began to rally after a bounce from support in the last quarter of 2022. 2023 opened at $147 and price has rallied to $191.93, a 30.5% increase in about a month. The last time price of $NVDA was at $191.93 was in August 2022, which was the previous resistance level.

We might be seeing the price of $NVDA reaching $200 per share in the coming weeks.

January 25, 2023January 25, 2023

Gold Price Reaches $1900 Since May 2022

Gold Reaches $1900 For The First Time Since May 2022

The price of Gold is beginning to appreciate after its price fell from the record high of $2075 per ounce in March 2022. From April 2022 to October 2022, all months closed bearish. The price of Gold reached $1614 in November 2022 which is the lowest price since April 2020. The $1614 price mark stands as the support level for that last 2 years.

In November 2022, a bounce from the 2-year support of $1614 occurred as the bulls gained more strength. As a result of the rally that started in the last quarter of 2022, Gold’s price closed for the year 2022 at $1822. The rally continued into 2023 as the price reached a 2023 high at $1928 on the 16th of January.

The rally could continue in the coming weeks as the resistance level at $2075 might be broken to the upside, which could eventually make Gold’s reach an all-time high.

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

January 19, 2023January 19, 2023

Crypto Assets In Its First Bullish Run in 2023

Crypto Market Sees First Rally Of The Year

The year 2022 was a bad year for crypto investors. The crypto market lost over 55% of its capitalisation in 2022. Bitcoin’s opening price in 2022 was $46,200 with a closing price of $16,450, which was approximately 64% loss in a single year. Ethereum’s opening price in 2022 was $3690, with a closing price of $1172, which was a 68% loss. The Binance Coin’s opening price was at $512.2 with a closing price of $246.7, a loss of 51% throughout the 2022 Crypto crash.

The 2022 crash might not be the end of the bearish trend, though the last few days have shown a bit of hope for crypto investors as crypto assets across many exchanges have appreciated. The rally might be a temporary one as we might see prices of crypto assets reach a 3-year low. The next crypto bearish move could break the lowest price of 2022 to the downside further. When this eventually happens, then the hope investors had as a result of the recent rally would be dashed away.

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

January 16, 2023January 23, 2023

Andrada Mining Limited, The Stock That Grew 8,650% In A Single Day

Andrada Mining Ltd, formerly AfriTin Mining Limited, is a Guernsey-based mining company. The principal activity of the company and its subsidiaries is mineral exploration and the development of mining and exploration projects in Namibia. The Company’s flagship asset is the Uis Tin Mine in Namibia, which is a hard-rock open cast tin mine. It produces and sells tin concentrate from its Uis Tin Mine. It also holds Namibian exploration licenses, EPL5445 and EPL5670 for the exploration of tin, tantalum and associated minerals. Andrada Mining Limited acquired the tin assets of Bushveld Minerals Limited (“Bushveld”) in Namibia and South Africa.

Andrada is an OTC stock which was listed in February 2021 at 0.0648 per share. In September 2022, Andrada share price went as low as 0.0008 which is the worst price ever. After this low, there was a sudden rise in the price in January 2023 as price opened at 0.0620. This jump was about 8650% appreciation in share price. The current all-time high of Andrada share price is 0.0998. With this bullish momentum, Andrada share price might rally to a new all-time high in the coming months. On the 4 hr Chart, price of Andrada has been oversold. The next rally to a new all-time high might make price reach an overbought position on the RSI.

January 16, 2023January 16, 2023

S&P 500 Bounces From 2022 Support Level

For about two years, between March 2020 and January 2022, SPX was in a bullish marathon. The support level as of March 2020 was $2210. The rally peaked at $4822 in January 2022. This price stands as the all-time high for the stock index.

Despite price reaching the all-time high in 2022, last year was a bad year for SPX investors as price went as low as $3488 in October 2022 as a result of the bearish turn. That low was 2022’s support level. 2023 has shown a bit of hope as there has been a bounce from 2022’s close of $3833. SPX opened in 2023 at $3845 and is currently at $3969.

On the daily chart, RSI indicates that price was oversold as of October 2022. This might be the reason for the recent rally. This oversold position may be able to create a bullish force that in the long run can push SPX above the all-time high thereby creating a new all-time high. However, in the short term, we might be seeing price rally above $4200 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 index in your portfolio? Schedule a meeting with us here

January 12, 2023January 12, 2023

Bitcoin Hits 4-Week High

2022 was not a good year for Bitcoin investors. The opening price of the year was $46,184 and the year ended at $16,523. This was about a 64% loss in the value of Bitcoin. On the daily chart, Bitcoin experienced lower highs and lower lows. The highest point Bitcoin reached in 2022 was $48,185 which was in March.

Bitcoin opened in 2023 at $16,538. Studying the technicals, it is clear that the price of Bitcoin has been ranging between $15,880 and $21,500 since November 2022. As the year 2023 began, Bitcoin saw a brief rally to $17,400 which stands as the 2023 high, and simultaneously the highest point in 4 weeks.

However, looking at the entire year of 2022, Bitcoin is currently experiencing a weak bullish momentum as the bears are still in control of the crypto market. If BTC price tries to rally from the current price of $17,287, it might be counteracted by the aggressive bears and price may fall back to the support level of $16,000.

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 cryptos your portfolio? Schedule a meeting with us here

January 10, 2023January 10, 2023

WTI Oil Price To Reach $100

Since both WTI and Brent Crude reached $130 in March 2022, the bears have continued to push price lower. At the end of 2022, price closed at $80.48, a little bit higher than the opening price of the year 2022 which was $75.67.

WTI Oil price opened in 2023 at $80.62. A consolidation that had begun in December which continued into the new year. Though RSI on the daily and weekly chart shows that price has been overbought, we might be seeing a price rally in the first quarter of 2023. Our analysts see the bulls pushing WTI Oil price to $100.

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 your portfolio? Schedule a meeting with us here