FaithMight - Page 15 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

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.

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 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.

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.

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.

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

August 17, 2022August 17, 2022

Walmart Bulls Set To Recover

The opening price of Walmart at the beginning of 2022 was at $144.03 per share. Price ranged for the most part of January before the bears took control, although this bearish turn was for a short period of time. The first major support level of 2022 was at $132.02 per share which was in February. From that support level, Walmart’s bulls pushed price to a new all-time high in April at $160.77.

After the all-time high was reached, the next trading day opened with a bearish turn as price went as low as $117.16. This price doubles as both the current year’s low and the current support level. Since that year’s low, each time the price tried to rally, the bears counteracted the bullish movement. On the daily chart prior to the fall to the $117.16 support, there were a few gap downs which are yet to retrace.

On the 16th of August, there was a gap up from the close of the 15th. The close of the 15th was at $132.56. The opening price of the 16th was at $138.81, about a 5.1% increase in a single day. This gap up could be a light at the end of the tunnel for Walmart investors as it could lead to a rally to a new all-time high above $160. RSI on the daily chart indicates that price is oversold. The daily chart also shows that the candlestick is in the upper region of the Bollinger Bands.

August 17, 2022August 17, 2022

Bitcoin in 8-Week Bull Run

In 2021, we published two articles forecasting a huge price drop of Bitcoin. Here is the first article and the second article. In May 2022, we also published a follow-up article supporting the aforementioned forecast of Bitcoin dropping below $30,000. Price eventually fell to as low as $17,960 which has been the lowest price of Bitcoin since December 2020.

From the all-time high of Bitcoin that was hit in November 2021 at $69,150 to the 2022 low at $17,960, Bitcoin lost 74% of its value following that drop in price. A bounce occurred from the 2022 low of Bitcoin which happened in June, and this has led the price to rally to $25,200, which is an 8-week high for Bitcoin.

This rally might not be sustained as the last 3 weeks has been characterized with a lot of Doji at the top on the daily chart. Our analysts believe that price might fall again, but this time to a psychological level at $20,000. We could see this in the next few weeks. Looking at the weekly chart, RSI indicates that the price of Bitcoin is currently oversold. This oversold position might eventually lead to a price rally which could be the “shoot for the moon” that many analysts in the past months forecasted that Bitcoin will experience.

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 in your portfolio? Schedule a meeting with us here

August 12, 2022August 12, 2022

EURGBP: Euro Continues To Lose Against The Pound Post-Pandemic

During the lockdown in 2020, EURGBP reached a new high at 0.95043. That was the highest point for EURGBP since March 2009. Since that high in 2020, the Pound has been gaining against the Euro. As a result of the price fall, the resistance level of EURGBP in 2021 was at 0.87240. And the lowest price for that year was 0.83680.

EURGBP opened in 2022 at 0.84026. For the first quarter of the year 2022, price was in a range. Despite the range, a new low was seen at 0.82036. As we entered into the second quarter, there was a breakout from the range to the upside. This breakout led to price reaching 0.87227 in June and it currently is the resistance level for 2022.

On the same day the resistance level was reached in June, price began to fall. As at the time of publishing this article, EURGBP stands at 0.84609. Looking at the daily chart, the price has been characterized by lower highs and lower lows. EURGBP is currently on a lower high with a support level at 0.83396. In the next few days or weeks, we might be seeing a lower low which could break that support level to the downside. RSI on the 30-Minute Timeframe shows that price is overbought.

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

August 9, 2022August 9, 2022

This Company Made 77% This Week, Karuna Therapeutics

Karuna Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing novel therapies to address disabling neuropsychiatric conditions. It specializes in research, development, commercialization of numerous central neural system agents and products targeted at a broad range of psychiatric and neurological conditions. The biotech, Karuna Therapeutics released its 2022 second quarter results yesterday, apart from this news, the karuna’s experimental psych medication, The share price appreciated 77% yesterday. The yesterday’s rally led to Karuna Therapeutics reach an all-time high at $245.00.

$KRTX had its IPO at $17.95 on the June 19, 2021. The price fell to a new low in October 2019 at $10.75. The previous all-time before the rally yesterday was at $162.00 which was in November 2021. There was a gap-up yesterday which led to the all-time high at $245.00. On the weekly chart, the RSI is already is already overbought. There could be a reversal from the all-time in the coming days. The price of $KRTX could fall below $200.