FaithMight - Page 13 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

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.

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

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.

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 and Nfts in your portfolio? Schedule a meeting with us here

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.

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

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:

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 in your portfolio? Schedule a meeting with us 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.

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

October 19, 2022October 19, 2022

Bulls Get Set for Coinbase

Since Coinbase share price dipped from the all-time high at $430 which was reached in the month of its IPO, each time the bulls make efforts to rally the price, the bears counteract it. All monthly candlesticks since its IPO have closed below the IPO price.

There was a bounce from the all-time low at $39.25 in May 2021. The current price of $COIN is at $66.21. The second half of the year has been characterized by a range. Price has been ranging between $46 and $116.72, with $116.72 being the current resistance level on the monthly time frame. We might be seeing price reach $100 before the end of the year as Google sets to partner with Coinbase.

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-curencies in your portfolio? Schedule a meeting with us here

October 18, 2022October 18, 2022

Archaea Energy Gains Over 50% In One Day

Archaea Energy is one of the largest renewable natural gas producers in the United States with an industry leading RNG platform and expertise in developing, constructing and operating RNG facilities to capture waste emissions and convert them into low-carbon fuel.

Archaea Energy had its IPO in December 2020 at $11.50 per share. The first four months of its IPO closed bearish until the bulls took over at the beginning of the second quarter in 2021 as price reached a new high in June 2021 at $18.61. The highest point Archaea’s share price reached in 2021 was $21.95 and the closing price for the year was $18.28.

The first four months of 2022 was majorly bullish as Archaea Energy attained a new high at $23.75 in April 2022. The following month was followed by a bearish turn which resulted in price reaching a current year’s low at $12.62 in June 2022. A rally then commenced from the year’s low to an all-time high of $26.12 on October 17, 2022 which was as a result of a gap up.

This gap up is the result of a recent announcement by British Petroleum of its plans to expand into bioenergy by acquiring Archaea Energy for approximately $4.1Billion. The gap up led to a 54.15% appreciation in Archaea Energy’s share price which is the highest rally in a single day since its IPO. As a result of the rally, RSI is currently overbought on the daily chart which might lead to a correction in price and this correction might reach $24.

October 18, 2022October 18, 2022

Cloudflare Stock Appreciates By 13%

Since the crash of Cloudflare’s share price from the all-time high at $221.53 in November 2021, the price has failed to rally. Each time it attempts a rally, it is counteracted by a more aggressive bearish force.

All Cloudflare investors since January 2021 are currently at a loss. The current price of Cloudflare’s share is $51.72 while the current low for the year 2022 is at $40.03. Despite the crash in price, Cloudflare is still trading above its IPO which is $18.

On October 17, 2022, Cloudflare’s share price saw a 13% gain. Despite this recent rally, the bears might push price to a new year’s low.

October 17, 2022October 17, 2022

USDJPY Reaches New High Since 1990

Analysing the monthly chart of USDJPY between the years 1999 and 2016, an inverted head and shoulders was formed which could have been the determinant for the rally of the pair that began in January 2011. The all-time low of the USDJPY was reached in October 2011 at 75.513. Only six candlesticks on the monthly chart have closed bearish since the rally began in January 2021.

The candlesticks in the last two months on the monthly charts have closed bullish. USDJPY’s opening price in October 2022 was 141.672. The bullish momentum that has gathered in the last two month has been able to push the pair to a high in this month at 148.887 which was last hit in August 1990.

We might be seeing a price correction to 145 as RSI shows price has been overbought on the weekly chart.

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