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

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.

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

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

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.

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.