FaithMight - Page 10 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

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

January 9, 2023January 9, 2023

AMTD Digital Surges by 199% in 24 hours

AMTD Digital is a Hong Kong-based financial technology firm founded in 2019. It’s a subsidiary of AMTD Group. It had its IPO in July 2022 on the New York Stock Exchange at $12 per share. In August, just two weeks after the IPO, there was a rally that took price up to $2545 which stands as the all-time high. That price gain was over 212X.

After the all-time high was reached, there was a massive price dump in that same month of August and price went below $100. Since September 2022, price has been below $100. AMTD Digital closed 2022 below IPO at $10.09. It opened on the first trading day of 2023 at that same price. On the 5th of January, there was a gap up and price closed for the day at $29. This rise was an appreciation of 199.50% in one trading day.

Currently on the daily chart as a result of the price rally, RSI shows price has been overbought. Our analysts think that price might rally to $60 soon.

January 6, 2023January 6, 2023

Will Alibaba’s Share Price Continue To Rally?

Alibaba had its IPO on the New York Stock Exchange at $94.11 in September 2014. After Alibaba’s share price reached its all-time high at $318.92 in October 2020, the share price began to slump and it reached a 2-year low at $58.26 in September 2022. The last time Alibaba’s share price got this low was in October 2015.

In November 2022, there was a bounce in share price from the support level. This bounce continued into the new year. The first few trading days of 2023 have been promising for Alibaba investors as price has rallied to $103.92 from the 2022 close of $88.45 which is about 17.4% appreciation in just two trading days.

From a technical analysis standpoint, this rally could be a temporary one. Price may slump again in the coming weeks as bears are still in control. On the monthly chart, despite the bearish run for about two years, price is yet to be oversold which means price can still fall further. Our analysis shows that Alibaba’s share price might still fall back to the 2-year low at $58.26.

January 4, 2023January 4, 2023

The Global Market Perspective In 2023

Global economic activity is experiencing a broad-based and sharper-than-expected slowdown, with inflation higher than it’s ever been in several decades. The cost-of-living crisis, tightening financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic all weigh heavily on the outlook. Global growth is forecasted to slow to 2.7 percent in 2023 from 3.2 percent in 2022. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic.

Taking a look at a few of the markets in 2023:

1. Nifty 50: This is a benchmark Indian stock market index that represents the weighted average of 50 of the largest Indian companies listed on India’s National Stock Exchange. Nifty 50 had a bounce from the lockdown lows in 2021. This appreciation continued in 2022 as price reached an all-time high at 18900 in the last week of November. The first half of 2022 was dominated by the bears until July when the bulls pushed price to a new all-time high. in 2023, we might see Nifty 50 below 15000.

2. FTSE 100: This is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. Just like Nifty 50, the FTSE 100 bounced from the pandemic lows. The FTSE 100 ranged between 7600 and 7682 in 2022. We might see a breakout of the resistance level of 7682 in 2023.

3. DAX: The DAX is a stock market index consisting of the 40 major German blue-chip companies trading on the Frankfurt Stock Exchange. The DAX rallied in 2021 from a 2022 low of 8288 to an all-time high at 16278. The first three quarters of 2022 were bearish until October as the bulls pushed the price of DAX upwards. The price of DAX could reach a new all-time high in 2023.

4. NIKKEI 225: The Nikkei 225 is the stock market index for the Tokyo Stock Exchange. The Nikkei measures the performance of 225 large and publicly owned companies in Japan from a wide array of industry sectors. The Nikkei 225 shows that it could reach a new all-time high in 2023. 2023 might just be a year to recover losses incurred in 2022 as a result of the activities of the bears.

5. S&P 500: The S&P 500 is a stock market index tracking the performance of 500 large companies listed on the stock exchanges in the United States. The year 2021 ended as the SPX reached an all-time high at 4822. The year 2022 was not a good year for the SPX investors. The year 2023 could be a year of recovery and SPX could reach a new 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 stock indices your portfolio? Schedule a meeting with us here

December 23, 2022December 23, 2022

November 2022 Forecast Review

In this article, we will review our calls in November. Here we go. Our first call for the month of November was made on the 1st. We forecasted that AirBnB would rally to $196. This call was invalid. On November 10, we forecasted that Robinhood’s share price would drop to $6 or $5. Our analysts think this call is still in progress.

On the 15th and 16th of November, we called EURUSD to fall below 0.94990 and Silver to drop to $19 respectively. Both calls were invalid. On the 18th, we forecasted that Solana might not rally even after the consolidation it was experiencing at the time. This call was accurate.

On November 21st, we forecasted that Goldman Sachs’ share price will rally to a new all-time high and on November 30th, we forecasted that Credit Suisse’s share price will bounce to $6. Both calls were inaccurate.

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

December 23, 2022December 23, 2022

October 2022 Forecast Review

In this article, we will be reviewing the calls we made in October. On October 7, we forecasted that entertainment company, AMC, will see its share price rally to $10. On October 14, we forecasted that EURGBP will break the support level at 0.86495. Both forecasts missed their targets.

On October 17, we forecasted that USDJPY would see a price correction from 148.887 to 145. This forecast hit its target. The next day on the 18th of October, we made two forecasts. We forecasted that Cloudflare’s share price might hit a new year’s low and we also forecasted that Archaea Energy’s share price will fall to $24. Both forecasts are in progress. On October 19, we called Gold to drop to $1616 and Coinbase to rally to $100. Both forecasts were misses. That same day, we also called British-American Cruise Operator, Carnival Corporation’s share price to rally to $11. This forecast was hit.

On the 26th of October, we forecasted that Bitcoin price will fall below the year’s low at $17,775. This forecast was spot on. We called Alphabet share price to rally to $100 on the 27th of October. We also forecasted that Meta will rally to $120. Both forecasts were hit.

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

December 23, 2022December 23, 2022

September 2022 Forecast Review

In this article, we review our calls in September. On the first day of September, we forecasted that crypto assets Bitcoin, Ethereum, and Solana will rally to $45,000, $3000, and $100 respectively. This call was not valid. The next day, we forecasted that Apple’s share price will bounce to $173. This call was also wrong. On the 6th of September, we forecasted that the Japanese Yen will gain against the US Dollar and fall to 130. Our analysts think this call is still in progress.

On September 8, we forecasted that Dow Jones will break the 2022 support of $26,630 to the downside. We also forecasted on the 9th of September that Oil will fall to $62. These two calls did not hit their respective targets. On the 12th of September, we forecasted that Coinbase might rally to a $100 psychological level. This call was also invalid.

On the 14th of September, we called Goldman Sachs and said it will rally to break the $359 resistance mark to the upside. This call hit its target. On the 15th of September, we forecasted that NZDUSD will rally from 0.59774 to 0.61600. This call also hit its target. On the 20th, we forecasted that Bitcoin will break the support of $17,625 to the downside. This forecast was spot on!

On the 23rd of September, we forecasted that Microsoft will rally to $250. This call was accurate as the forecast hit its target. On the 27th of September, we called on the Euro-Franc currency pair. We forecasted that EURCHF will rally to 1.02223. Our analysts believe that this call is still in progress which means it’s still valid. Our last call was on the 30th of September. We forecasted that Dow Jones will rally above $30,000. This call was spot on!

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

December 21, 2022December 21, 2022

August 2022 Forecast Interview

In this article, we will be reviewing the calls we made in August. Our calls this month cut across stocks, currencies, and crypto. The first call we made was on the 1st of August. We forecasted that the share price of Car Rental company, Hertz, will rally to $24. This was a wrong call. That same week on August 5, we made a call that stock market index, S&P 500, will drop to a new low below $3635. This call was a Hit!

On August 9, we made a call that Karuna Therapeutics’ share price will fall below $200. This forecast hit its target. Later that week, we forecasted that currency pair EURGBP will break support at 0.83396 to the downside. This forecast did not hit its target.

On August 17, we made two calls. We forecasted that Bitcoin will fall to a $20,000 psychological level. We also forecasted that Walmart’s share price will rally to a new all-time high above $160. The forecast on Bitcoin was a hit. The forecast on Walmart is still in progress.

On the 22nd of August, we forecasted that GBPUSD will rally to 1.21699. On the 25th of August, we forecasted that Tesla’s share price will range around $300 psychological level for the next few months and might not reach $400 for the remainder of the year. This forecast was wrong while the forecast on GBPUSD was a hit.

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