Gold experienced two highs between 2020 and 2022, which signifies a double-top on the monthly chart. This double-top was at $2069, one in August 2020 and the other in March 2022. A price drop to $1616 occurred after this double top. Between September and October 2022, the bears lost their momentum and the price of gold began a major rally in November 2022.
The rally that began in November 2022 made the price of gold reach an all-time high at $2082 in May 2023. Since the all-time high, the lower highs and lower lows pattern has been formed on the daily chart. The price of gold is currently at $1932, we might be seeing the price fall to $1914 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 commodities in your portfolio? Schedule a meeting with us here.
From its all-time high of $69,200, Bitcoin crashed to $15,474 establishing a 2-year low. This massive fall halted in November 2022. A bounce from the low started in 2023, as the price of Bitcoin rallied to $31,989 in July 2023. This price is the highest price $BTCUSD has hit this year.
As of the time of this writing, the market cap of Bitcoin stands at $515billion and the price is at $26,440. BTC has rallied by 1.95% in the last 7 days. We might be seeing the price of Bitcoin fall to the psychological level of $25,000 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 cryptocurrencies in your portfolio? Schedule a meeting with us here
The stock index has gained over 600 points in 2023 despite a huge fall in 2022. After the price of SPX reached an all-time high of $4822 on the second trading day of 2022, the bears took charge as price reached $3493 – the lowest price of SPX since November 2020. SPX in the next one year has the potential of rallying past $4700. However for now, we might see a short-term rally, after which we might see price falling below $4000 in the coming months.
On the 27th of July 2023, the price of SPX reached a 2023 high at $4613. There was a correction after this milestone was reached. The correction made price fall to $4341 on the 18th of August. Price of SPX at $4341 currently stands at a temporary support level. The bulls have been able to push price higher. The current price of the S&P 500 stands at $4461. We might see a rally in the coming days above the psychological level of $4500.
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
The year 2022 was not a good year for Oil investors as the downward slope that started in March 2022 continued to the end of the year. The highest price level of WTI crude oil in 2022 was at $130.75 per barrel. The last time price touched this price level was in July 2008, approximately 15years ago.
The downward slope continued in the first half of 2023. Price fell to $63.76, the lowest price since November 2021. The bulls in the second half of this year have managed to push price high from the support level of $63.75. A new 2023 high was reached last week as the WTI oil price hit $86.19, the highest price level in 10months. On the monthly chart, RSI has shown that price has been overbought but we foresee price still moving upwards. The current price of WTI crude oil is at $85.23. We see a rally to $87.65 in the coming days.
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
AMC Entertainment Holdings, Inc. is an American movie theatre chain founded in Kansas City, Missouri in 1920. The AMC Entertainment has the largest movie theatre chain in the world. The value of $AMC has been reducing since June 2021 after price reached an all-time high at $394.62. The bears has pushed price lower and have given no chance to the bulls to take over. As of the close of market on Monday, August 28, 2023, AMC share price fell from $11.99, which was the opening price for the day, to $11.07, which was 10.94% drop in price, approximately 11%.
On the monthly chart, it has been a woeful month for this stock. Currently in August, it has lost 74.76% of its value. The opening price in August was $43.50 and price is currently at $11.07. The price level reached yesterday shows price hit a major support level, which is the all-time low.
On the daily chart, price is oversold, which could be an indication for a bounce. There have been a few gap downs since August 15, we might see price recovery and gap downs being closed.
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
Apple is an American multinational technology company in the USA. Apple is the world’s largest company by revenue, with $383.93 billion in 2023. Microsoft on the other hand is also an American multinational technology corporation, with a revenue of $211.91 billion. These two companies are part of the Big five American information technology companies alongside Alphabet, Amazon and Meta Platforms.
Based on market cap, Apple and Microsoft lead the companies globally with $2.738 Trillion and $2.366 Trillion respectively. The year 2022 was not a good year for Apple investors as price dipped to $124.44, from the highs of $174.44. The year 2023 has shown relief for investors after price jumped from the support level of 124.44. The rally this year has made the share price of Apple reach an all-time high of $198.50.
Microsoft also had a major bearish run in 2022 as price fell from the high of $350.02 to $211 in November 2022. The bounce in 2023 has made the share price of Microsoft reach an all-time high of $367 in July 2023. For both stocks, a correction has occurred this month. We might see a continued price rally in the coming weeks as $AAPL cold reach $195 per share from the current $174.74, and Microsoft could reach $340 from the current price of $319.
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.
Vertiv is an American provider of equipment and services for data centers. Vertiv Holdings was formerly known as Emerson Network Power in 2016. As of now, Vertiv has a total staff strength of 27,000 globally. Vertiv Holdings had its IPO in July 2018 at $9.68. It is listed on NYSE as $VRT. On the monthly chart since its IPO, price ranged until December 2019 when a new high was reached at $12.43. Just like most stocks, $VRT dipped during the lockdown to an all-time low of $4.76.
As price bounced from the all-time low, a major rally occurred, which took price to $28.88 in September 2021. Despite the price fall of Vertiv in 2022, the company had a revenue of $5.6 billion. The value of Vertiv Holdings dropped as a result of material and freight inflation. It was $40 million worse than expected, and “foreign exchange, divestitures, and other” was $45 million worse than expected in 2022.
Since the beginning of this year, Vertiv Holdings has brought relief to investors as price rallied to break the previous high at $28.88. On the 2nd of August 2023, price of $VRT jumped to $33.01 from $26.51, which was the close of the previous day. The gap-up is yet to be corrected as price is currently consolidating despite general market trends in the last one month being bearish.
The all-time high stands at $36.73. This was reached on August 4, 2023. We foresee a breakout to the upside in the coming weeks leading to a new high which will replace the current 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 stocks in your portfolio? Schedule a meeting with us here.
It’s indeed a bullish year for the crypto market as major crypto assets reached new highs. Bitcoin has hit new highs every month of this year except for May when a retracement occurred from April’s high of $31,000. The current 2023 high stands at $31, 850, which was reached on July 13. Price retraced as it went down to $28,929 to form a new support. The current price of Bitcoin as of this writing is at $29,305.
We might be seeing a rally back to the year’s high at $31,850 which also stands as the current resistance level. Even better, the rally could break this resistance to the upside. On the daily chart, RSI indicates that price has been overbought and price is currently in the lower region of the Bollinger bands. The weekly chart is yet to show that price is overbought, but it has been oversold since June 2022. As Bitcoin rallies, other crypto assets could rally in the coming days. We could see Bitcoin above $32,000 for the first time since May 2022.
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.
As an investment company with a strong interest in the emerging markets in Africa, we continue to play our part in searching for opportunities to invest in and support startups that have a measurable impact on the lives and livelihoods of those living on the African continent. In the last 3 years, we have invested in startups in proptech, fintech, transportation, and health. And in 2022, our goal was to venture into unexplored territories and invest in startups in other industries.
We first met the the founders of Trueflutter, Dare Olatoye and Ayo Olatoye, back in 2019. It was our first meeting with a company tackling love in Africa (starting in Nigeria). Well, now, I’m old school: I like to meet guys in person. I would probably never be on a dating app if not for covid and I’m still not really on them. So Dare and Ayo had a lot of convincing to do lol. And they did. I came away from that first conversation with them really impressed with what they are building. However, we passed on investing at that time as we were concerned with their burn and ability to raise more funding. We were wrong.
Fast forward 2 years and a TrueFlutter deck came across my desk again. I was pleasantly surprised to learn that they had successfully closed that round we passed on and had gained considerably more revenue traction. Then in early in 2022, our team met with Dare and the team in Lagos for the first time. In that meeting, they gave us a breakdown of how Nigeria’s teeming youth population are in search of genuine connections. They further explained to us how most single Nigerians have to rely on western dating apps to find partners. The founders themselves had used these dating apps and shared how frustrating and exhausting their experience was. This was not necessarily because those apps were not good but because the apps weren’t configured to incorporate the unique cultural context and socioeconomic peculiarities of a country like Nigeria. Although they complained, lol, they decided to do something about the problem. And thus, TrueFlutter was born.
The Dating App sphere in Nigeria is not exactly at ground zero. Many Nigerian dating apps have been developed but there has not been any measurable impact so far. Many of the subscribers of these dating apps fall into the hands of scammers and kidnappers. And as word-of-mouth spreads, people eventually desist from using these apps and from inputting their private information, and such apps die a natural death or morph into some dark-web pseudo-porn tool. TrueFlutter, being well aware of these problems, created solution with features to address these pain points and give singles a far more superior experience.
In Q2 2022, our team began to carry out our due diligence on TrueFlutter. We scrutinized the app’s features (security, billings, design, etc.) and we concluded that Dare and Ayo were really on to something. We saw how they carefully addressed the problems faced in that space particularly security and the assessment of how real or fake a user is. The traction in monthly active users went from 0 to more than 50,000 subscribers between January to December 2021. Their user base expanded beyond Nigeria with connections happening now in Kenya, Ghana, and South Africa. Users has given positive reviews of the app. And most importantly, the company is converting users to paid customers.
In August 2022, we were glad to make an investment in TrueFlutter. We believe that this dating solution will be used by millions of Nigerians and Africans as long as they allow their purpose to guide them every step of the way. We are glad to be investing in an enterprise that is positively impacting social relationships in real-time. Go TrueFlutter!
Coinbase Global Inc. is an American publicly traded company that operates a cryptocurrency exchange platform. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam.
From the resistance level at $357.39 where it was on November 9, 2021, Coinbase stock fell to the all-time low at $32.53 on December 28, 2022. Since August 2022, $COIN has maintained a resistance level at $116. In the same August 2022, price fell below $100. For almost one year, price of $COIN has been trading below $100 up until the week of the 10th of July when price crossed the psychological level of $100 to the upside. The price is currently at $106.67 as of the time of this writing.
The bullish momentum might come to an end soon as the bears could push price to $40 in the coming weeks. RSI has shown us on the daily chart that price is overbought. This could be an indication of a possible price reversal.
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.
