FaithMight - Page 11 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

December 9, 2022December 9, 2022

January 2022 Forecast Review

On January 3, we forecasted that the share price of The Chinese Evergrande might rise to $20. This call was a Miss.

On January 5, we forecasted that Apple share price might drop to $149.07. This call was a Hit. On the same day, we forecasted that S&P 500 would continue its rally. This call was a Miss.

On January 7, we forecasted that WTI Oil to drop to $67.50. This call is in Progress. On January 13, we forecasted that Microsoft share price will rally to $341.48. This call was a Miss. On this same day, we forecasted that Coca-Cola’s share price will drop to $53.90. Price dipped to $54 which means it was a Close Call.

On January 17, we forecasted that Virgin Galactic’s share price would rally to $43.49. This call was a Miss. On January 20, we forecasted that Western Union’s share price would drop to $16.16. This call was a Hit.

December 8, 2022December 8, 2022

Prometheus Biosciences: The Stock That Rose 165% In 24 hours

Prometheus Biosciences is an innovative biotech firm aiming to develop novel therapeutic and companion diagnostic product candidates for the treatment of immune-mediated diseases.

Prometheus ($RXDX on NASDAQ) had its IPO on March 12, 2021, at $25 per share. $RXDX has a market cap of $2.01Billion and generates $3.13Million in revenue annually. On Wednesday, the 7th of December, the company released a result of treatment in the development for ulcerative colitis (UC) and Crohn’s disease (CD). The result from this study showed it was effective as a treatment and safe for use.

On the 6th of December, $RXDX closed at $35.32 per share. By the opening of the following trading day, there was a gap up as a result of the release of the aforementioned report. This gap up made price open at $105.20 which was over 200% appreciation of the stock as of the time price opened on the 7th of December.

That same day, price kept rallying to about $112 before it reversed. At the end of the trading day, price closed at $95.80. We might be seeing a price fall to $64 in the coming weeks. In September, RSI indicated price was overbought on the weekly time frame. Right now, RSI is also indicating on the weekly time frame that price is overbought due to this recent 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 stocks in your portfolio? Schedule a meeting with us here

December 5, 2022December 5, 2022

Gold Reclaims $1800 Psychological Level

The opening price of Gold in 2022 was $1828.01. Despite the rally in January, the month ended on a bearish note at $1796. February and March were much more bullish as price hit $2070 which was last reached in August 2020.

The bears took control as Q2 began and from April to October, all monthly candlesticks closed bearish. This bearish run made price hit $1616 which stands as the support level for the last two years i.e. 2021 and 2022.

Analyzing November and the first few days of this month, there seems to be some hope for Gold. In November, price bounced from the year’s support of $1616 as November closed at $1768. This bullish run has continued as price touched $1800 on December 1, 2022.

Currently, price has reached a new month’s high at $1809. Our analysts do not see the bears taking over and that means by December 31, 2022, the price of Gold should still be above $1800 psychological level. RSI indicates on the daily time frame that price is overbought however, this might not translate to a price reversal soon.

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

December 2, 2022December 2, 2022

Are Udemy Investors Caught In A Bear Trap?

Udemy is a massive American open online course provider. It was founded in 2010 and by April 2021, the platform had recorded more than 40million students, 155,000 courses and 70,000 instructors in over 65 languages. As of 2022, Udemy has over 52milion users. Between 2011 and 2020, Udemy made some series of fund raising. The last funding before the IPO in 2021 was for $50million at $3.2billion valuation led by Tencent Holdings.

On October 29, 2021, Udemy held their IPO with a price of $27 per share. Price of $UDMY rallied only for a few weeks from its IPO to reach an all-time high at $32.68 on the 19th of November 2021. The next trading day after the all-time high was reached, the bears took full control and price began to dip and closed below the IPO price even before the end of November 2021.

The opening price of this year was at $19.51. as price, it has also been a year of low volatility, though the first four months closed bearish. The price of $UDMY in 2022 has been between $19.84 in January, which is the highest price level in the year and $9.47 in July, which also stands as the all-time low. Udemy share price right now is at $14.24 and we might be seeing a price fall to $11.79 in the coming weeks.

November 30, 2022November 30, 2022

Credit Suisse In Worst Ever Bearish Run

Founded in 1856, Credit Suisse Group AG, Credit Suisse for shorts, is a global investment and financial services firm based in Switzerland. It is not only listed locally on the Swiss Stock Exchange, and it is also listed on the London Stock Exchange and New York Stock Exchange.

In September 1995, Credit Suisse Group AG got listed on NYSE at an IPO price of $22.93. Since the IPO, Credit Suisse bulls have been able to push price to an all-time high at $77.38 in April 2007. Since this all-time high, the bears have steadily gained control of the price movement as price dipped to $17.94 i.e. below IPO, in March 2009.

From March 2009, there was a rally to October of that same year that took price to $58.69. However, since then, Credit Suisse has nosedived as share price hit a record low of $3.37 yesterday, November 28, 2022. According to Bloomberg, this is the investment bank’s worst bearish run ever. According to our analysts, Credit Suisse share price is expected to bounce from this point to $6 soon.

November 21, 2022November 21, 2022

Goldman Sachs On A 6-Week Rally

On the first trading day of the year 2022, Goldman Sachs share price opened at $387.10. The bulls only enjoyed a few days of rally as price reached the year’s high at $413.33. This mark was hit on the 5th of January which was the third trading day of the year.

Following this rally that took price to the year’s high, the bears have been in control of the price movement causing a dip in price. This dip has seen Goldman Sachs’ price sink to hit the year’s low at $278.19 in July 2022. The last time price went this low was in January 2021. It is worthy of note that Goldman Sachs hit its all-time high in the same year 2021 at $426.50.

In the second half of this year, the bulls have become more active. There was a bounce from the year’s low to $359.50 in August 2022, which was also the initial resistance for the second half of 2022. When this resistance was hit, there was a correction on the weekly chart which caused price to fall below $300 for the second time in the year.

In October 2022, the bulls regained control of the price movement sending Goldman Sachs’ share price on a 6-week jolly ride upward. Price is currently at $379.14, which is the resistance level on the weekly chart. Although, RSI indicates price is overbought on the daily chart, it does not indicate that it is overbought on the weekly chart. Our analysts believe that this rally is strong enough to take Goldman Sachs’ share price to a new all-time high.

November 18, 2022November 18, 2022

Solana Hits All-time Low

Since the Solana project was launched in 2021, the first four months were all bullish. Solana had its ICO at $25 and in the space of those four months, it rose to an all-time high of $260. But just like other cryptocurrency assets in 2022, the price of Solana has fallen dramatically.

Investors in crypto have not seen profit in 2022 as many crypto assets have been dipping. Solana’s year’s low is $12.245 which was reached earlier this month, and this currently stands as the all-time low for this cryptocurrency.

Currently, there is a consolidation in motion. However, there are no indications of a rally resulting from this consolidation. On the daily chart, price is currently oversold on the RSI. But there are no indications on the RSI weekly chart that 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 cryptos in your portfolio? Schedule a meeting with us here

November 17, 2022November 17, 2022

Crypto Exchange, FTX, files for bankruptcy amid Financial Misapproriation Issues

Cryptocurrency exchange firm FTX is in a huge financial crisis. Reports say that at least $1 billion of customer funds have “vanished” leaving huge speculations about what really is going on with the Bahamas-based crypto firm owned by 30-year old Samuel Bankman-Fried.

Reports are saying that Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried’s trading company, Alameda Research. According to some sources, between $1billion and $2billion of this $10B fund could not be accounted for on Alameda’s spreadsheet and they don’t know what became of it.

On Friday, 11th of November 2022, FTX filed for bankruptcy after a rush of customer withdrawals earlier that week. A rescue deal with rival exchange, Binance, fell through, precipitating crypto’s highest-profile collapse in recent years.

Customer withdrawals had surged last Sunday after Changpeng Zhao, CEO of giant crypto exchange Binance, said Binance would sell its entire stake in FTX’s digital token, worth at least $580 million, “due to recent revelations.” Four days before, news outlet CoinDesk reported that much of Alameda’s $14.6 billion in assets were held in the token.

This is a big hit to the global perception of the cryptocurrency market. This event proves that the crypto market is in dire need of regulation so as to avoid similar occurrences in the future. Regulating the crypto space will ensure that there is no trust deficit and investors can be rest assured that their funds are always secure.

November 16, 2022November 16, 2022

Silver Price Rallies From Year’s Support

Between 2014 and 2020, Silver ranged between $11 and $21 per ounce. A breakout of the 6-year resistance occurred as a result of the ease of lockdown in the second half of 2020. This breakout led to Silver rallying to $29 per ounce.

Since the rally to $29 in July 2020, the bulls have found it difficult to get Silver to exceed that $29 mark. The bears have continued to dominate the charts and price was pulled down to $17 in late August 2022. The last time the price of Silver was $17 was in July 2020.

Silver’s current support level is $17. A bounce from this support level occurred early in September 2022 and price is now at $21. We might be seeing Silver lose a few points in the coming weeks and the commodity could fall to $19 per ounce.

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

November 15, 2022November 15, 2022

EURUSD Bounces From 19-Year Low

In the year 2000, EURUSD had its major support level at 0.82258. In July 2001, a rally began that lasted for years and this rally took EURUSD to an all-time high of 1.60932. This mark was reached in April 2008. Since this high, it’s been lower lows and lower highs for the EURUSD pair.

In September 2022, EURUSD reached 0.94990 which stands as a 19-year low for the currency pair. After this low, the pair saw a rally that bounced the price upwards to 1.04067 where it currently stands.

However, despite the current bull run, our analysts think that the bears are still in control and the US Dollar will still gain against the Euro. Our analysts forecast EURUSD falling below the 19-year low of 0.94990 in the coming weeks. Though we have RSI indicating that price has been oversold twice, in 2015 & in 2022, on the monthly chart, it is not certain that this indication will lead to a rally for the EURUSD.

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