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

October 14, 2022October 14, 2022

EURGBP To Lose Bull Pressure

The first half resistance for the year was at 0.87265, which was in June 2022. There was a break-out to the upside in September has price rallied to 0.92758 in September 2022, which is this year’s high. After the rally to 0.92758 on the 26th of September 2022, the next trading day closed bearish which has led to more bearish close. The bulls tried to push price high to 0.88188 in October after a price fall to 0.86495.

The last 2 trading days have closed with a doji. The price might also close with a doji today, which could be an indication of price reversal to the downside. If the price falls, the support level at 0.86495 might be broken to the downside. The Daily Chart shows the RSI has been overbought, which the daily candlesticks indicate a possible price reversal in the coming days.

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

October 7, 2022October 7, 2022

AMC Entertainment Holdings Loses 10% In 24 hours

In December 2013, AMC had its IPO at $11.80. Since its IPO, it rallied to form a high at $22 in 2015. In 2016, it fell again to $11.93, a slump that plunged the price almost back to the IPO level. Towards the close of 2017, it rallied back to 2016’s high which completed a double top pattern.

The double top led to a price reversal in 2017 as price dipped to $1.23 in 2020 as a result of the global lockdown. There was a relief in 2021 as price rallied to an all-time high at $44.85 which was in June 2021. The following month, which was July, price reversed and a bearish turn began. Since July 2021 till date, AMC Entertainment stock has been falling.

In 2022, using the monthly chart, all candlesticks have been trading in the lower region of the Bollinger Bands. Since the all-time high in June 2021, RSI has indicated that price has been overbought. Our analysts forecast a rally to $10 in the coming weeks.

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 in your portfolio? Schedule a meeting with us here

September 30, 2022September 30, 2022

Dow Jones Falls Below 30,000 For The Second Time In 2022

The Dow Jones Index is a combination of 30 stocks that reflects the US economy and the stock market as a whole. Looking at the history of the Dow Jones when it was first launched in May 1896, which is over a century ago, the IPO price was at $29. In over one century it has been listed on the stock exchange, the $DJIA has appreciated to a ground-breaking $36,991, making it the all-time high. Since its IPO in the year 1896, $DJIA has appreciated over 1270% to reach the all-time high. The threshold was reached in January 2022.

The Stock Index has not been good for investments this year as it has been majorly bearish. In the first half of the year, in June to be precise, the price of $DJIA went as low as 29,698. The bulls made price rally above $34,000 in August 2022. The rally was countered with the bears’ activities, making the price fall to a new low in 2022 at $28,969. Since the all-time high, price has been overbought on the RSI using the monthly chart. The monthly candlesticks have since April 2022 been closing in the lower region of the Bollinger Bands. In the coming weeks, we might see price rally above $30,000 again.

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

September 27, 2022September 27, 2022

EURCHF Reaches All-Time Low

The opening price of $EURCHF this year was at 1.0376. Euro gained against the Swiss Franc for just a few weeks. This rally reached 1.06123, which is the current 2022 high. Most of the monthly candlesticks in 2022 have closed bearish, which shows the strength of the Swiss Franc.

On the weekly chart between the year 2015 and 2021, a head and shoulders was formed, which led to the price fall from May 2021 to the current price below $1. The current price of $EURCHF is at 0.95485 after reaching the lowest price level at 0.94062. The Swiss Franc has been appreciating against the Euro since 1973. Each time a rally occurs, it is countered with an aggressive bearish take over. There are indications that price could rally in the coming weeks. The rally could push price to 1.02223.

September 23, 2022September 23, 2022

Microsoft Sees Worst Close Since May 2021

Microsoft investors have enjoyed bull runs for 13 years as the lowest price within that time frame was at $15.10. Despite the worldwide lockdowns and the negative impact on many stocks across the world, Microsoft’s share price didn’t see a major reversal. What the Microsoft share price saw, at worst, were corrections.

In fact, during the lockdown, Microsoft saw a correction between February and March after which it began to rise. This rally continued up until November 2021 as price reached $350, which stands as the all-time high. After this all-time high was reached, the activities of the bears can be likened to those in 2008 as price is currently at $238. Also, since 2015 using the monthly time frame, this is the first time four candlesticks will be seen in the lower region of the Bollinger Bands.

We might be seeing a rally to $250 per share in the next few weeks. The 4H timeframe at two different times in September shows that price has been oversold. This could be an indication for the next appreciation in price.

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 20, 2022September 20, 2022

Bitcoin Set For New Low Before Expected Rally

On August 17, 2022 when Bitcoin’s price was around the psychological level of $24,000, we made a forecast that the bears might push price downwards to another psychological level at $20,000. We made this forecast against the backdrop of anticipation of a rally for Bitcoin. On the 27th of August, Bitcoin hit $20K as we had forecasted.

After this $20K mark was hit, the bears still pushed price lower to $18,500. When price hit $18,500, there was a bounce to $22,800. The bounce was not able to mature into a full-blown rally because the bears took back control and price is again below $20,000. As of today, 19th of September 2022, Bitcoin hit a 3-month low of $18,300.

Altogether, it’s been a bearish year for Bitcoin. The current support level for the year is at $17,625. We might be seeing price go below this level in the next few days or at most, two or three weeks from now. If the price of Bitcoin eventually gets to a new low for the year, this might form a major support level for the next bull run to $40,000. On the weekly chart, RSI indicates 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

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.

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