FaithMight - Page 14 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

September 15, 2022September 19, 2022

NZDUSD Set To Rally

The kiwi has been on a downward slope since the 2021 high at 0.74670. This slope has made price reach a new low at 0.5972 which is currently a two-year low. Despite heightened inflation across the nations of the world including the United States, the US Dollar has proven to be stronger than other currencies including the New Zealand Dollar.

NZDUSD opened in 2022 at 0.68442. The currency pair went bearish for the first few weeks of the year after which the bulls found momentum. In February, the bulls were able to get Kiwi to rally to 0.70300, which was hit on the 5th of April and currently stands as the year’s high. But this bullish rally proved to be just a correction as the trend on NZDUSD reversed after price hit the year’s high.

NZDUSD is currently on a bearish run which is a continuation of the downward trend of 2021. RSI shows no indications that price has been oversold on the larger timeframes. Although, price is currently in the lower regions of the Bollinger Bands. We might be seeing a rally in the next few weeks as price could reach 0.61600 from the current price at 0.59774.

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

September 14, 2022September 15, 2022

Goldman Sachs Share Price Bounces From Support

Investors who bought Goldman Sachs shares in the beginning of 2022 have not had a pleasant time in the stock market so far. Goldman Sachs’ price opened in 2022 at $386.85 per share. Two days later, it rallied to $413.32 which stands as the year’s high. Since then, Goldman Sachs’ share price has been falling. This bearish run plunged the price down to $277 in July 2022 which simultaneously stands as the year’s low and the current support level of the year.

In the second half of July, Goldman Sachs share price saw a bounce from the year’s support level which pushed price to $359. This price was hit on the 16th of August. $359 is currently the resistance level of the second half of the year. In the last two weeks of August, the bears were able to push price down from the resistance level to $322.65. This stands as the most recent support level as the candlesticks of the last four trading days have closed bullish.

Price is currently at $342.85. Despite indications that price has been overbought on the RSI hourly time frame, there is a tendency that price will rally further to break the current $359 resistance mark to the upside.

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

September 12, 2022September 12, 2022

Coinbase Gained About 10% In A Day

It seems the second half of this year will bring a lot of hope for investors as the monthly candlesticks for July and August ended in profits. Since Coinbase’s IPO in April 2021, Investors from the IPO day have had no cause to smile to the bank. All monthly candlesticks have closed below the IPO price at $380. The 2021 lowest price was at $201, which was in May 2021. Each time the share price tried to rally, it was counteracted by the efforts of the bears.

The opening price for this year was at $258. Price went lower to reach an all-time low at $42 in May 2022. Coinbase is the second largest Crypto exchange company in the world with over $1.4million worth of transactions done daily. On the 9th of September, the coinbase shares opened with a gap up at $78 from the previous day of $72. After that gap up, the market closed at $80.87.

On the monthly chart, there is an inverted hammer and a doji towards the support level around $42. As investors are hopeful for an appreciation in the price of $COIN due to increased acceptability of crypto assets in the world, we should be seeing a rally in the share price of Coinbase in the coming months. The psychological level of $100 might be reached before the end of this year. The RSI shows that the weekly and monthly charts have been oversold, an indication for a possible 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

September 9, 2022September 9, 2022

Oil Price Falls Below $90

We published an article on the 27th of June, 2022 when the price of oil was above $100 per barrel, that the oil price will experience a bearish turn that will push price down into the two-digit zone. Ever since then, the bulls have failed to come up with a rally.

Currently, the market is basing due to the increase in energy prices in Europe which is slowing down the demand for oil products. Another reason why the market could be basing is due to the increased interest rates. Yet another reason for the market basing is the fear of a recession.

Since June, the monthly candlesticks for the oil price have closed bearish. The lowest price in August was $85 per barrel. Despite the price rallying to $90/barrel in the first few days of September, the bears have pushed price to an 8-month low of $81 per barrel.

In the aforementioned article, we forecasted a bearish turn that will push price to $62 per barrel. Currently, we are $19 away from that target. On the monthly chart, RSI indicates that price has been overbought. If governments of nations introduce higher interest rates in the coming days or weeks, we might be seeing the oil price finally fall to $62 within a short period of time.

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 indices in your portfolio? Schedule a meeting with us here

September 8, 2022September 8, 2022

Dow Jones To Fall To A New Low

The Dow Jones has enjoyed a bullish run since the first quarter of 2020. The price was as low as $21,600 in March 2020. The bulls have been able to move price to an all-time high at the beginning of this year. The current all-time high is at $36,950 which was reached on the 5th of January 2022. The bears have been more effective this year as the year’s low is at $26,630. In mid-June, after the year low, the bulls resumed activities as a bounce occurred to reach $34,200 in August 2022.

After the 2022 second quarter high was reached at $34,200, the $DJI bears are back in action as stocks generally have fallen. The Dow Jones Index is not left out as price has fallen to $31,400. On the daily chart, RSI has shown that price is overbought, which resulted to the recent price dip. There could be continuous bearish turn in the next few weeks, as the 2022 support at $26,630 might be broken to the downside. With the recent fall of Dow Jones, price has fallen to the lower region of the Bollinger bands.

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 indices in your portfolio? Schedule a meeting with us here

September 6, 2022September 6, 2022

USDJPY rises above 140.00 for the first time since 1998

Looking at the monthly charts, the USDJPY pair shows an inverted head and shoulder pattern which could have led to its recent rally in favor of the US dollar. Generally, the USDJPY bulls have been on steroids post-lockdown.

Since the beginning of 2022, the US dollar has seen significant gains when compared to other currencies. Most of the monthly closes for USDJPY this year have been bullish. Earlier in the month of July 2022, USDJPY reached 139.00 for the first time since 1998. This rally has been sustained for the past two months. And yesterday, on the 1st of September 2022, the pair reached a new psychological level of 140.00.

RSI currently indicates that USDJPY is overbought on the monthly and weekly charts. This could lead to a massive loss in the value of the US dollar in the coming months. From our analysis, this means that USDJPY might fall to 130.00.

September 2, 2022September 2, 2022

Apple Share Price Drops

Stock prices generally dropped in the last few days. The opening price of Apple at the beginning of this year was at $177.94. The least price of $AAPL in the first quarter was at $150. The support level at $150 was not maintained in the second quarter as price of $AAPL fell to a new low at $129.04 mid-June. This fall might just be a correction. Apple investors had a sign of relief in the last two weeks of June when a bounce from 2022’s low at $129.04 reached $176.02. The past few days has not been favorable for Apple investors as price fell.

Apple has been known for privacy, hence the reason for the increase in sales year-in, year out. Just yesterday, the news of Apple’s Chief Privacy Officer, Jane Horvath leaving the company for a law firm was released. Horvath joined the company in 2011. This could have resulted in the recent fall in Apple’s share price. There could be price recovery in the next few weeks, as price could bounce to $173 from its current price at $156. RSI on the 4hr Chart shows 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 stocks in your portfolio? Schedule a meeting with us here

September 1, 2022September 1, 2022

The Next Crypto Bull Run in 2022

The cryptocurrency market as a whole has seen a bullish trend since June 2022, precisely between mid-June and mid-August. For Bitcoin, the bull run hit its peak at $25,200 on the 15th of August, 2022. For Ethereum, the peak was hit on 14th of Aug at $2030. And for Solana, the peak was hit on the 13th of August at $47.

Since these peaks were hit, the bears have moved in on the cryptocurrency market. Bitcoin took a dip to a new low at $19,500 on the 29th of August. On the same day, Ethereum and Solana hit new lows at $1425 and $29 respectively. Our analysts think that in the next few days, the price of cryptocurrencies might consolidate or even go lower.

However, our analysts think that in the next couple of weeks, the crypto market as a whole might be seeing its next bull run. For Bitcoin, the next rally might push the price above $45,000. For Ethereum, the next rally might push the price above $3000. And for Solana, the next rally might push the price above $100. RSI on all aforementioned crypto assets have indicated that price has been oversold on the daily chart since June. This forecast will bring hope to NFT traders as a lot of NFT assets will increase in value as a result of the next crypto bull run.

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

August 25, 2022August 25, 2022

Tesla Splits Stock For The Second Time In 2 years

Tesla split stock for the second time in 2 years

For the second time in two years, Musk’s Tesla has split its stocks. The stock is to split by 3 for 1 and was to take effect at the close of yesterday’s trading day, 24th of August, 2022. Due to the split, the share price of Tesla closed at $302 per share.

On the 19th of May 2022, we published an article where we made a forecast that Tesla’s share price will fall to $600. As of the time of publishing the article, Tesla’s share price was $709. Immediately after our forecast, Tesla’s share price dropped to $620 after which it began to rally. We are correct to say that our forecast reached its mark only that this 3:1 split has disrupted the price as Tesla is now trading at $300 per share.

According to our analysis, following this stock split, Tesla’s share price might range around $300 psychological level for the next few months. This means that we don’t see Tesla’s share price reaching $400 this year.

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

August 22, 2022August 22, 2022

GBPUSD Bulls To Take Charge

Since the beginning of the year, the US dollar has gained against the British Pound. The opening price at the beginning of the year was at 1.35307. On the 13th of January, the British Pound rallied against the USD to hit 1.37490 which currently stands as the year’s high.

In a turn of events, the US dollar began to gain massively. Although the US inflation is hitting record highs, the US dollar is still stronger when the effect of inflation on the US economy is compared to the effect of inflation on the economies of other nations. On the 7th of March 2022, the bears that have been pushing the GBPUSD downwards succeeded in getting the pair to break the 2021 support level of 1.31637.

Price is currently at 1.18049. In the next few days, we might be seeing price consolidating around the 2020 support level at 1.14135. This consolidation could last for days and eventually, GBPUSD might see its next bull run to 1.21699. Previously in May 2022 and July 2022 on the weekly chart, RSI indicated that price had been oversold.