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Category: Commentary

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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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Nvidia Is Now The Third Most Valuable Company.

Nvidia Corporation is one of the largest developers of graphics processors and chipsets for personal computers and game consoles. The head office is in Santa Clara, California. NVIDIA Corporation does not have its own manufacturing facilities and therefore works according to the fabless principle.

The company was founded in January 1993 by Jen-Hsun Huang, Curtis Priem and Chris Malachowsky. In May 1995, Nvidia launched the NV1 (STG-2000), one of the first 3D accelerator processors (GPU). In January 1999, Nvidia was included in the NASDAQ (NVDA) and delivered the ten millionth graphics chip in the same year. In the Forbes Global 2000 of the world’s largest companies, Nvidia ranks 572 (as of: 2017 financial year). The company had a market value of approximately US $155 billion in mid-2018.

Fast-forward to May 2024, $NVDA is the third most valuable company in the world with a market capitalisation of $2.829 Trillion. On March 8, 2024, Nvidia reached a high of $977 before price fell to $755 in April 2024. A rally began in the latter part of April which has resulted into Nvidia reaching new highs in May 2024.

In the month of May, Nvidia had at least 5 Gap ups on the daily chart. $NVDA is currently at $1134. There might be a price reversal to these gap ups in the coming weeks. This reversal might eventually drop the price of Nvidia to $784. Eventually if Nvidia price fall to the $784 price level, Nvidia might no longer be the third most valuable company in the world. RSI on the weekly and daily shows price has been 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 stocks in your portfolio? Schedule a meeting with us here

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Microsoft Remains The Only Company With A $3Trillion Market Cap

80% of the most valued companies in the world are in the United States, with Microsoft as the world’s number one valued company at $3.198 Trillion market capitalization. In the last one year, Microsoft has appreciated by 29.92%. After the March 2024 high at $430.80, price dipped to $388.17, which was the lowest price in April 2024. From the low in April, price has bounced to an all-time in May. The all-time high to $433.61 is just a little breakout from the previous high of March. The second most capitalized stock in the world is Apple at $2.913 Trillion., Microsoft remains the only company with a market capitalization of over $3 Trillion at the moment.

According to Microsoft latest financial reports the company’s current revenue (TTM) is $236.58 Billion. In 2022 the company made a revenue of $204.09 Billion, an increase over the year 2021 revenue that was $184.90 Billion. Also, according to Microsoft’s latest financial reports, the company’s current earnings (TTM) is $105.26Billion. In 2022 the company made earnings of $82.58 Billion an increase over its 2021 earnings that was $79.68 Billion.

The current price of $MSFT is at $430.32. The Microsoft bulls have been in charge of the growth since the low in 2022. Despite many overbought positions on the RSI using the weekly chart, RSI has continued to reach new highs. The $MSFT will continue to see 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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Bitcoin Bulls Set In Motion

Bitcoin, the premier cryptocurrency, reached the threshold of $1trillion market cap in 2021 and this year also, a feat no other cryptocurrency has attained. The current market capitalization of Bitcoin is $1.2trillion. The next most valuable cryptocurrency is Ethereum, with a market cap of $347billion. The value of the crypto market is way ahead of the total US stock market as of this year which stands at $50.8miilion.

Bitcoin reached a record high at $73,913 in March 2024. Since the downturn of 2022, investors haven’t been able to smile to the bank until now. The bulls have been in control since January 2023, but with slow movement. The 2024 growth is quite exponential as price has been able to reach an all-time high.

On the weekly chart, RSI has shown that price has been overbought since November 2023. This has not resulted in a reversal. Instead, price has continued its bullish run. Bitcoin’s price corrected, which made price fall to $56,464 on the first trading day of May 2024. As of the time of this writing, Bitcoin is at $61,472. We might see the bulls move price to $64,900 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 cryptocurrency in your portfolio? Schedule a meeting with us here

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NZDUSD TO FALL

The kiwi has not been doing so well since the beginning of the year. The opening price of NZDUSD in 2024 was 0.63293, and the lowest price this year is 0.58503, in April 2024. The Kiwi’s downtrend had begun in February 2021 at a major resistance level at 0.74759. On the weekly chart, a hammer has been formed at the support level at 0.58503, which has led to a rally from the week of April 15. The current price of the kiwi is at 0.59821.

The correction in the price of the kiwi has made price rally to the recent high at 0.60495. The USD is beginning to gain against the NZD. Since February 2023 until now, the price of Kiwi has been moving between 0.57784 at the support level to the resistance level at 0.64218. We might see the price of the kiwi fall to 0.59080 in the coming days, as the bulls are beginning to lose momentum.

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 currency in your portfolio? Schedule a meeting with us here

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