FaithMight - Page 12 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

November 10, 2022November 10, 2022

Robinhood Share Price Falls, To Reach A New All-Time Low

Robinhood Markets, Inc. is an American financial services company, with her headquarters in California. It’s a FINRA-regulated broker-dealer, registered with the U.S. Securities and Exchange Commission. As of March 2022, Robinhood had 22.8million funded accounts and 15.9million monthly active users. In April 2022, Robinhood introduced a cryptocurrency wallet to more than 2 million users.

Most Robinhood investors would be in losses, except for those investors with new entries from June 2022. Robinhood had its IPO at $37.87 in July 29, 2021. The stock rallied for just few days, as price eventually reached an all-time high at $85.15 on the 4th of July, 2022. Since its IPO, only the first five trading days were in favor of the $HOOD bulls. Since November 17, 2021, Robinhood has been trading below the IPO price at $37.87.

2022 has been a bearish year for $HOOD investors. The current price of $HOOD shares is at $9.74. The all-time low for Robinhood is at $6.71, which was hit in June 2022. Recently, the crypto industry witnessed another crash. We might be seeing another drop in the price of $HOOD, which could eventually make the price reach a new all-time low below $6.71. We might be seeing price reach $6 or $5 per share.

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November 8, 2022November 8, 2022

Apple and Saudi Aramco Still Above $2Trillion Market Cap Despite Market Dip

The world is yet to fully recover from the damage Covid-19 wreaked on the stock market. A few companies have been able to increase their market capitalization despite the global economic downturn during and post global lockdown. Only four companies have a market capitalization of over one trillion dollars. These companies are Apple ($2.201 trillion), Saudi Aramco ($2.046 trillion), Microsoft ($1,650 trillion) and Alphabet ($1.121 trillion).

As of January 2022, Apple became the first publicly traded company to reach $3trillion. Both Amazon and Tesla have surpassed $1trillion in the past, but due to the recent stock market crash, their market caps are currently at $928.15Billion and $645.43Billion respectively. The first company to ever reach $1trillion market cap was PetroChina but the gas company is currently at #122.05Billion in market cap.

Saudi Aramco tops the list of highest earners among the publicly traded companies with $279.3Billion. With the hike in inflation rate in many countries of the world, the stock market might not appreciate this year. The next major rally for global stocks could occur in 2023. By this time, we will have more companies with market cap of over $1trillion.

November 1, 2022November 1, 2022

Airbnb Price Bounces From All-Time Low

AirBnB had its IPO in December 2020 at $145 per share. This IPO was done a few months after the ease of lockdown globally. Price rallied to $219, an all-time high, on February 11 2021. The rally was short-lived as price fell to $129.49 in May 2022, which was below the IPO price. There is a report that indicates that travel around the world is starting to slow because of high energy prices, and consumers are having a second thought before going on vacation. The housing market is currently in turmoil, which could spill over to the AirBnB market.

Since the beginning of the year, AirBnB has been down by 32.46%. As a result of the fall, price crossed the $100 psychological level for the first time as it hit $85 in July 2022. Price is consolidating on the weekly chart, as the price of $ABNB is currently at $110.30. A rally to $196 might occur in the coming months.

October 31, 2022October 31, 2022

Meta Falls Below $100 For The First Time Since 2016

Meta is one of the world’s most valuable companies. As of 2021, the revenue was over $117billion. Mark Zuckerberg is the controlling shareholder of Meta. In October 2021, Meta changed its name from Facebook. Meta reached an all-time high at $384.33 in August 2021. All months in 2021 closed bearish except for March and April 2022. The Bulls are having a hard time with the continuous downtrend movement since 2021 all-time high.

Meta’s share price closed at $130.28 on the 26th of October, but opened today, the 27th of October at $98.04 as a result of a gap-down. On the Daily Chart, RSI shows price has been oversold in September and October. A price rally might occur, which could close the gap down and price could reach $120.

October 27, 2022October 27, 2022

New Entry Point for Potential Investors In Alphabet Inc. Stock

The downward price movement has not been favorable to Alphabet investors since the beginning of this year. Potential Alphabet investors must be looking out for best entry points, but the price keeps moving around the year’s support level at $95.25. The opening price of Alphabet at the beginning of this year was at $144.54, with the first month of the year closing bearish. There was a temporary rally in February that made price hit $152.07, making it the year’s high and also the all-time high.

The price movement since the all-time high was reached has been characterized with lower-highs and lower-lows. The year’s low is currently at $95.58. The market opened today, the 26th of October, and as a result of a gap down, the price is at $96.89, from $104.93 where it closed yesterday. The gap down might be closed in the coming weeks as price rallies to reach $100. If Price eventually reaches $100, this might be a good entry point for potential investors in Alphabet Inc. as price makes its way to $138.

October 26, 2022October 26, 2022

Loss in NFT Value Might Just Be Short-Term

Non-Fungible Token, NFT for shorts, is a unique digital identifier that cannot be copied, substituted, or subdivided, recorded in a blockchain, and used to certify authenticity and ownership. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody and require few or no coding skills to create. The Non-Fungible Token (NFT) market nosedived from its peak of $17 billion in early 2022 to $470 million in September 2022. That is about 97% drop in value. This data was compiled by Dune Analytics, a blockchain analytics firm.

The growth of NFT between 2020 and 2021 cannot be overlooked as the market grew by 21,000%. i.e. from $82million to more than $17 billion. Ethereum is one of the commonly used blockchain networks to trade NFTs. In the next few years as crypto assets appreciate, there will be increment in the value of NFTs and the $17billion value might be surpassed as a result of the next crypto rally.

October 26, 2022October 26, 2022

Bitcoin Bears To Stay Dominant

Since the all-time high for Bitcoin has been reached in November 2021, Bitcoin price has dipped heavily. BTCUSD has lost 72.1% of its value from the all-time high at $69,149. As of today, 25th of October 2022, price is around $19,292. The Bitcoin resistance level for the year was at $48,239, which was on the 28th of March 2022. Bitcoin had the highest market capitalization of $1.28 trillion on November 9, 2021. 8 years ago, precisely on May 1, 2013, Bitcoin’s market capitalization was at $1.2 billion. There has been a monumental growth in the value since its launch in 2009 when price was at $0.0009.

Just like the Bitcoin crash, most crypto assets have fallen in value. Many crypto investors are hopeful that price would appreciate before the end of the year. There are no signs or possible indications that price could rally this year. All through this year, each time the price of Bitcoin has tried to appreciate, it has been consistently counteracted by a bearish force. The year’s support level is at $17,775 which was reached in June 2022. Using the Monthly Chart, price is currently consolidating around the 2017 resistance level at $17,500. The Daily Chart has shown more of a ranging price for the most part of October 2022. We might be seeing price fall below the year’s low at $17,775, which will further reduce the value of BTC; keep in mind that the current market cap of Bitcoin is at $370.5 billion.

October 21, 2022October 21, 2022

UNCHARTED Podcast: Episode 7

In this episode of UNCHARTED Podcast, we discuss the Forex Market, Oil Market, and Cryptocurrency Market while touching on the news of a Global Recession and whether we are in one or not. This episode features our analysts who called the Crypto crash while the cryptocurrency market was still going up in late 2021.

On the Forex front, we take a dive into the economic crisis in the UK and its impact on the British Pound Sterling. We go on to talk about the possible reasons why the Sterling is falling against other major currencies. We also look at Oil, the global recession, and the continued dominance of the US Dollar in the Forex market. Lastly, we speak on Crypto particularly Bitcoin and Ethereum and where the price might be headed next.

Watch full podcast here:

October 19, 2022October 19, 2022

Carnival Corporation Share Price Bounces from Support Level

Carnival corporation &plc is a British-American cruise operator with a combined fleet of over 100 vessels across 10 cruise line brands. Carnival corporation had its IPO in July 1987 at $3.94 per share. Carnival corporation is listed on NYSE and LSE. As of this year, the total staff of Carnival corporation stands at 150,000.

Carnival corporation & plc announces offering of $1.25 Billion for refinancing to be issued by Carnival Holdings in Bermuda. This news could have been the reason for an uprise in the price of Carnival yesterday, with 11.14% appreciation in price.

Over the years as price rallied, $CCL reach an all-time high in January 2018 at $72.85 and fell to $8.08 as a result of the 2020 pandemic. Post-Lockdown, a rally to $31.83 occurred in 2021, which currently stands as a a two-year high. Before the 11.14% rally yesterday, the price of $CCL fell to $5.89, which makes it the lowest price since 1991. We might be seeing a rally to $11 in the coming weeks from its current price at $8.08.

October 19, 2022October 20, 2022

Gold’s Price Heading To 2022 Support Level

Globally, the prices of commodities have dipped this year. At the beginning of the year, the price of Gold was at $1829 per ounce. There was a rally in the first quarter of the year, which made price reach $2071 per ounce. Since the year’s high was reached, it has continued to fall. We wrote an article in July 19, when price of Gold was at $1711. Our analysts on this day said price could fall below the then support level of $1676. The price of Gold today stands at $1632.

Just like the cryptocurrency market is down in this year, the gold market is also down. We might be seeing a new 2022 low below $1616, which is the current year’s low. On the weekly chart, there is a double-top pattern, which must have led to price fall. Despite RSI shows price has been oversold twice on the daily chart, price could still fall further.