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Category: Commentary

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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.

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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.

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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.

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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.

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Bitcoin Reaches 2023 High at $37,200

After the major crypto market dip in 2022, it has been challenging for the crypto bulls this year has there have not been a significant price movement either to the upside or the downside as price has been between $20,000 and $31,500.

From November 2021 when price of Bitcoin reached an all-time high at $67,500, the bears were in charge of the market for one year. In November 2022, the price reached $15,479. That is approximately 77% fall. The opening price of Bitcoin in 2023 was $16,519, which was higher than the support of 2022 at $15,479. This is an obvious indication that 2023 started bullish. January 2023 was majorly bullish as the monthly closing price was at $23,081. The rally continued in February as price hit a new 2023 high at $25,000. From March 2023 to October 2023, the price of bitcoin ranged between $24,700 and $31,800.

In the first week of November 2023, there was a breakout to the upside as the price of Bitcoin reached at new 2023 high at $37,880. There might be a continued bullish run to a new 2023 despite the as price of Bitcoin is currently overbought on both daily and weekly charts.

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 in your portfolio? Schedule a meeting with us here.

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Google Currently Trading Above $130

As of November 7, 2023, Alphabet (Google) has a market cap of $1.637 Trillion. This makes Alphabet (Google) the world’s 4th most valuable company by market capitalization. In the space of one year, the share price of Google ($GOOG) has appreciated by 42.97%. In the last 24hours, the market cap has increased in value by 0.83%. The revenue growth of $GOOG in the last 20years has been exponential. As of 2004, the revenue of $GOOG was $3.194Billion. In 2014, the revenue had increased to $66Billion yearly. Currently in 2023, the revenue of $GOOG stands at $297.13Billion.

As regards share price, this year’s high for $GOOG is at $142.17 which was on the 12th of October. On the 24th of October, there was a gap down from $139 to $129. November opened with a bounce from the October support level of $121, and the gap down was partly filled as price is currently at $131.45. We might see price rally in the next few days to $139. The rally might be temporary as we might see a fall in price to $85 in 2024.

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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Crude Oil Price Could Fall In The Coming Weeks

Crude Oil is a major commodity in the world as it is used for production and logistics of good and services globally. The price of crude oil was at a high in 2022 at $130.75. Afterwards, price began to fall, and this fall continued until price reached $64 in May 2023. The $64 price level makes it a 2-year low.

The second half of this year seems to be good for the bulls as price rallied from the support level in May 2023 to $94 in September 2023. A resistance level has been formed at this $94 mark. On the daily, weekly and monthly charts, RSI has shown that price has been overbought. The bearish turn might push price lower and price might reach a new 2-year low. If the crude oil price falls below the $64 price level this quarter, then all gains for the year is lost. Chances are that this fall is a result of the ongoing wars. But we’ll find out eventually.

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.

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Gold Bounces As Bulls Gain Momentum

Gold Bounces As Bulls Gain Momentum

In October 2022, the price of gold fell to $1617 per ounce, after price had reached $2071 in March 2022. This price dip is one of the worst falls Gold has had since its been traded. A major support level was formed at $1617. There was consolidation for about 8 weeks before a bounce in the price of $XAUUSD started in November 2022. The bounce made the price of gold reach a previous resistance level of $2071 in May 2023. At different times in the past, in August 2020, March 2022 and May 2023, the price of Gold has maintained this resistance level at $2071.

In the past three years, the price of Gold has been moving between $1617 and $2071. From the recent top in May 2023, price fell to a support level of $1810 in October 2023. The current price of Gold is at $1948. We might be seeing price rally to $1990 in the coming weeks, The RSI on the daily chart has shown that the price is oversold.

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.

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Nvidia Share Falls After An All-Time High

Nvidia Share Price falls after an All-time High

Nvidia Corporation is an American Multinational technology company founded in April 5, 1993. Nvidia Corporation is one of the largest developers of graphics processors and chipsets for personal computers and game consoles. Nvidia has a market cap of $1.118 Trillion as of October 2023. As of this year, Nvidia had a workforce strength of 26,196 and has made a revenue of $26.97 billion.

Unlike many other stocks, Nvidia investors enjoyed a smooth ride during the 2020 lockdown. Prior to 2020, the support level of Nvidia was at $28 per share in December 2018. The bulls picked up momentum and a rally began that would last between December 2018 and November 2021 when price peaked at $347.

A major fall in the price of Nvidia occurred after price hit $347. The reversal in price made price reach $103.61 in October 2022. That is to say, for the most part of 2022, the bears were in charge of the Nvidia stock. There was a bounce in November 2022. This bounce began from the 2022 low at $103.61 and continuously rallied until price broke the $347 high. An all-time high has been reached at $500 and this happened in August 2023. Recently, price corrected and fell to $410 in September as RSI has been overbought multiple times since January. In the coming weeks, we might see price rally back to $490.

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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Dow Jones Falls Below $34,000

The price of Dow Jones at the beginning of 2023 was $34,000. Similarly to the S&P 500, the Dow enjoyed a post-lockdown rally. Despite the lockdown low of $18,335, the rally pushed price to an all-time high of $37,000 in January 2022. The Dow Jones is one of the oldest and most commonly followed equity indexes. The $DJI includes only 30 large companies. As of May 31, 2023, the market cap of the Dow Jones was $10.9trillion.

Last year was not a good year for the Dow Jones as gains from 2021 were lost up until October 2022 when the bulls were able to regain hold and push price up. In October 2022 alone, $DJI rallied with 4000 points. This rally has continued and 2023 has seen price rally to the year high at $35,660 in July. The rally was counteracted by a bearish turn almost immediately on the monthly chart.

RSI on the monthly chart shows price has been overbought. At the beginning of this week, the bears pushed the price of Dow Jones below $34,000. This price drop made price reach $33,315, the lowest price so far in the second half of 2023. In the coming weeks, we might see the price of $DJI rally to a psychological level of $35,000.

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 stock index in your portfolio? Schedule a meeting with us here.

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