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Category: Commentary

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Google Bounces From Support Level

The fourth most valuable company in the world, Alphabet Inc with the ticker $GOOGL currently has a market capitalization of $1.950 trillion with the current share price at $158.99. $GOOGL has appreciated with 14.41% in the last one year. The monthly chart is majorly characterized with higher highs and higher lows. The total number of employees as of today stands at 182,500 globally and in the last 7 quarters, $GOOG has been consistently profitable.

In July 2024, price of $GOOG reached an all-time high at $194.31. As soon as the high was reached, the bears pushed price lower which resulted in a bearish close for the last two months. Also, price has continued with the downward slope this month with the current price at $158.99 after a rally from the 3 months low at $148.64. The bulls seem to be fully back into action, as we might see a continued rally from the support level of $148.64. We could see price reach new highs, which could eventually make the price of $GOOG reach $200 before the end of this year.

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

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USDJPY Reaches 2024 Low, Set To Rally

USDJPY down to 2024 Low; Set to Rally

The Ninja popularly known as the USDJPY has been on a downward trend for the past 5 decades. Since the new millennium started, the Japanese Yen has gained more than the US Dollar. In the third quarter of the year 2011, the price of Ninja reached an all-time low at 75.784. From that all-time low in the third quarter of 2011, the US Dollar has been gaining against the yen. This rally has been sustained up until the 2024 high, which is a 112% gain in value, with the 2024 high at 161.923.

A 9-year resistance level of 126.435 was broken to the upside in April 2022 as a result of the above-mentioned rally. Also, a 34-year resistance level at 160.827 was broken to the upside as a result of this same powerful rally.

On the monthly chart, RSI has indicated that price has been overbought at two different times, namely the 2015 and 2022 resistance levels at 126.435 and 152.383 price-points respectively. The last two-month candlesticks closed bearish, but there are possibilities of price rallying to 146.784 in few weeks from the current price at 140.423 as at the time of this writing.

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 in your portfolio? Schedule a meeting with us here

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Nvidia Stock Falls After Earning Report

As of September 2024, NVIDIA has a market cap of $2.692 Trillion. This makes NVIDIA the world’s third most valuable company. Nvidia lost $279 billion in value during yesterday’s tech-market selloff, the biggest single-day market-cap decline on record. Prior to this price fall, price of Nvidia fell by 8% on Monday. Nvidia posted modestly better-than-expected second earnings last week, albeit against elevated expectations for the market’s hottest stock.

Despite the recent loss in the value of Nvidia, it’s still been a profitable year for Nvidia. The opening price of Nvidia in 2024 was $49.49. Price reached an all-time high in June 2024 at $141.41. After this high price, there was a correction. This correction made price hit an August low at $90.20. A bounce has since then occurred with the current price at $108.61 as at the time of this publication.

Price of Nvidia might fall to $78.91 in the coming weeks as the bears are active. Price has been overbought using the RSI on the daily chart multiple times, but the four-hour chart shows price has been oversold. This oversold position is not a guarantee for a price recovery. Price is currently in the bear region on the four-hour chart.

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

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S&P 500 Bounces After A Bearish July

S&P 500 Bounces After A Bearish July

The Stock Index, SPX opened a bit lower yesterday as it lost 15.30points in the first few hours, which is 0.27%. The opening price of SPX in 2024 was $4749. The bulls have since then pushed price to new highs. The January 2024 rally was able to break the resistance of December 2021/January 2023 at $4,821. This year has been good for many tech stocks in the SPX, as the index has appreciated by 17.6%. The all-time high of SPX is at $5671, which was in July 2024.

In July 2024, SPX had an overbought position on the RSI on the weekly chart, and on the monthly chart price has just recently been overbought. From the all-time high in July 2024, price fell to $5124 in the first week of August, a price recovery has started, with current price at $5621. SPX might break new highs in the coming months despite indication of price being overbought.

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

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Disney’s Price Falls To Support, Could This Be An Indication To Buy?

As of August 2024, Walt Disney has a market cap of $156.17 Billion and its share price is $86.05. In 2023, the company made a revenue of $88.93 Billion, an increase over the revenue of year 2022 which was $84.41 Billion. In the last one month, Disney has lost 11.92% of its value and 19.03% of its value in last 3 months. Disney’s 2024 high is $123.95, which happened on the 28th of March 2024.

In the first week of May 2024, there was a gap down in the price of Disney from $117 to $107 per share. This gap down is yet to be covered as the bears have continued to push price lower. The current 2024 low is $84.03. Disney’s support level in 2023 was at $79.03 per share, almost the same as the lowest price in 2020.

Our analysts see price jump from the low to new highs in the coming months. Price is sold on the daily chart. Price of Disney might move past $120 per share from its current price of $86.05.

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

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Global Stock Rebound After Early August Crash

Global Market Crash

Since the beginning of August 2023, many investors have begun to count their loses following the global market plunge. On Monday, August 5, stock prices crashed across several economies. Investors were worried about a potential recession and the knock-on effects from the unwind of the yen carry trade.

As of Monday, the 5th, West Texas Intermediate crude oil fell 0.97% to $72.81 a barrel. For Brent crude, the international benchmark, declined 0.90% to $76.12 a barrel. Gold was lower by 1.51% to $2,432.40 per ounce. The 10-year Treasury yield dropped 9 basis points to 3.70%. Bitcoin plunged 14.2% to $49,846.

FTSE 100 closed down to register its biggest drop in more than a year. Overnight, Japan’s stock market suffered its heaviest loss since 1987.

With all of these occurrences last week, the stock market is beginning to recover its losses. As of the time of this writing, Starbucks has gained 22% today, PACs Group has gained 14.50%, Tesla 3.85%, SPX 1.05% in just a single trading day. There is a possibility this rally will continue this quarter, i.e. we expect prices to maintain an upward trend for the rest of August and through September.

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

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Target Corporation Bounces From Support Level

As of August 2024, Target has a market cap of $69.45 Billion. This makes Target the world’s 265th most valuable company by market cap according to companiesmarketcap. The opening price for this year was $141.80 and price rose to $181.88 in April, which is the highest point in 2024.

In October 2023, Friday the 6th, the lowest price of $TGT was $102.90, as last year was not a good year for the $TGT investors. The market was fully bearish up until the first week in October, as a bounce from the support level occurred. Since the bounce occurred, price has rallied to $181 after which it has dropped to the current price at $147.85 per share as at the time of this writing.

2022, 2023 and 2024 have maintained the same high at $181. On the daily chart, there is an inverted head and shoulder formed already, this could lead to the rally that will break the current resistance at $157, and push price to hit $175.

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

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Alphabet Reaches Record High

Alphabet has maintained a support level at $83.21 since November 2022, and has been bearish for the most part of the year. A major bounce occurred in December 2022 and a strong bullish rally ensued.

Alphabet Inc. is a listed US holding company of the former Google LLC, which continues to exist as a subsidiary. With sales of $137 billion, a profit of $30.7 billion and a market value of $863.2 billion, Alphabet Inc. ranks 17th among the world’s largest companies according to Forbes Global 2000 (as of 4th November 2019). The company had a market cap of $766.4 billion in early 2018. In 2019, Alphabet had annual sales of $161.9 billion and an annual profit of $34.3 billion.

Currently Google ranks the fourth most capitalized company in the world with a market cap of $2.245 Trillion. As a result of the uprise in the value of $GOOG and the strong bullish rally on the technical side, price reached the 2022 high at $152.84. But the rally’s steam wasn’t cooling yet. In April 2024, $GOOG broke out of that high and headed to an all-time high at $194.31. This occurred in July 2024.

Currently, there is a price correction which has made price reach $182.80, which is the price as at the time of this writing. Google should continue to rally to new highs 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 stocks in your portfolio? Schedule a meeting with us here

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SPX Continues To Hit New Highs

After 67 years of the being founded, the S&P 500 continues to hit new highs. The S&P 500 Index, also known as the Standard & Poor’s 500 or the US500, is an American stock market index that tracks the performance of the top 500 companies listed on the Nasdaq Stock Market or the New York Stock Exchange. It is a free-floating index covering US firms with the largest market capitalisation and book value, representing approximately 80 per cent of the total value of the country’s equity market.

As of December 31, 2023, the market cap was SPX was US$42.0 trillion. As of June 28, 2024, the nine largest companies on the list of S&P 500 companies accounted for 35.8% of the market capitalization of the index and were, in order of highest to lowest weighting.

Some of the largest companies included in the S&P 500 Index today are Microsoft, Nvidia, Apple, Amazon.com, Meta Platforms, Alphabet and Berkshire Hathaway.

The opening price of SPX this year was $4744. Each month of this year, the SPX index has been reaching new highs. Today, a new high was reached at $5,588. There are two instances on the weekly chart using the RSI that price had been overbought. A correction in price should have occurred but the bulls are very much active with the rally. A reversal in price might occur as price might hit $4988 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

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A Crypto Crash is Approaching

The crypto boom in 2024 has made many crypto coins reach new all-time highs. With Bitcoin reaching $73,193, Ethereum $4,093 and Solana $210.15. All these highs were reached on the third week of March. Ever since this high was reached, price has been hitting similar highs and lows in the last three months.

The last major crypto low was in November 2022. At this point Bitcoin’s price was at $15,484. Just like 2021 when price of Bitcoin and Ethereum were at the then all-time high at $69,000 and $4,890 respectively. Unlike Bitcoin that reached a new all-time high in 2024, Ethereum has failed to reach a new all-time high in 2024, as it has maintained the 2021 high at $4,890.

We might be seeing a massive drop in the price of Crypto assets in the coming weeks. Bitcoin could fall from the recent high of $63,700 to $19,500, Ethereum from $3,447 to $1500. The reason for this crash is not ascertained at the moment. There have been price retesting the common price level.

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 crypto in your portfolio? Schedule a meeting with us here

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