FaithMight - Page 18 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

June 2, 2022June 2, 2022

Is Halliburton’s Share Price Heading For A Fall?

Just like many stock prices in Q1 2020, the share price of Halliburton fell from $24.32 at the beginning of the year to $4.33 in the same quarter which was about an 83% loss in its value. This could have been due to the global lockdown from the Covid-19 pandemic.

In hindsight, the all-time high of Halliburton was reached in July 2014 at $74.21. Ever since the price hit that peak on the monthly chart, it has been unable to break that price to the upside. Each time the bulls trigger a rally, the bears respond aggressively and the price is pushed lower. Since the all-time high in 2014, the lowest price Halliburton has hit was the aforementioned $4.33 in Q1 2020.

Halliburton recovered fairly quickly from the Covid hit and began a bull run at the beginning of April 2020. This rally lasted for two years hitting a high of $42.54 in April 2022. In other words, from the lockdown low to this current high, Halliburton has experienced at least 9X in return. The last time Halliburton’s share price hit the current high of $42.54 was in October 2018.

After the high of $42.54 in April 2022, the price fell to reach $33.30 in May 2022. A bounce occurred afterward as the price was able to rally to $42.12 which was on May 31, 2022. There are indications that the bears might push the price lower to $34.

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

May 31, 2022May 31, 2022

Bears To Stay Dominant In NZDUSD Tussle

Looking at the monthly time frame over the last two decades, NZD has continuously gained against the USD. The highest price within this time span was at 0.88396 which occurred in September 2011. After this time, NZDUSD consolidated for another 3 years after which it began to dip leading to the US Dollar gaining against the New Zealand Dollar.

The first major drop in price brought NZDUSD to 0.61967 in July 2015. There was a bounce in Q4 2015 that initiated a bullish run that lasted till Q3 2017. This upward trend took the price to 0.75525 in July 2017 which was the highest price for that year. After this high, the New Zealand Dollar began to lose against the US Dollar. On the downward trend, price went as low as 0.54704 which occurred during the lockdown, in March 2020 precisely.

There was a jump in price in April 2020 and a bullish run ensued for the next 12 months, shooting price to 0.74678 in April 2021 – a gain of about 2000 pips. This price will be the highest in the year 2021. The bears kicked in again, forming an inverse head and shoulder on the monthly time frame.

Since May 2022, NZD has been rallying against the USD and as a result, the price reached 0.65610 which stands as May’s resistance level. The USD in the coming days or weeks might gain against NZD as price might fall below 0.64271 which is about a 100 pips gain in favor of the US Dollar.

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

May 30, 2022May 30, 2022

Sunrun Rallies After Hitting Lowest Point Of The Year

Sunrun is an American provider of residential solar panels and home batteries out of San Francisco, California. It was founded in 2007. The firm was able to raise $12million in venture capital funding in June 2008. In 2009, Sunrun closed a Series B funding of $18million. They have had other sources of funds after the Series B.

In 2015, Sunrun went public on NASDAQ at $14 per share with an initial market cap of $1.36billion. Sunrun’s annual revenue as of 2020 was $92million. The lowest point Sunrun’s share price was in the year 2020 was at $7.83. This happened in March 2020. The price dropped to this lowest point from $23.58, where it was just a month before that i.e. February 2020. This was about a 67% loss in its value.

Price jumped dramatically from the then-lowest price of $7.83 in March 2020 to the 2020 high of $82.67 in September 2020. This is about 11X of the lowest price in just 6 months. After this extraordinary rally, the price closed at the end of 2020 at $69.39. There was a temporary rally in 2021 as the price of Sunrun in January 2021 hit $100 for the first time in its history-making it an all-time high.

Ever since this threshold was reached, Sunrun has been on a losing streak. The lowest price of Sunrun this year was reached in the second week of May 2022 at $16.82. Price, however, has been consolidating since mid-April on the weekly chart, and it rallied up from the lowest price to $26 where it currently is. We might be seeing the rally continuing and the price reaching $40 and even more in the coming months.

May 30, 2022May 30, 2022

Coca-Cola Share Price Jumps

After the full takeover of BodyArmor by Coca-Cola in November 2021, the share price of Coca-Cola had a brief bullish run that took the share price from $56.29 in November 2021 to $67.11 in April 2022, which now stands as the current all-time high for Coca-Cola.

In the month of May 2022, Coca-Cola’s share price dipped from the all-time high down to $62.66. Price rallied shortly afterward and the price reached $66.39. The bears counteracted the rally as the price was pushed down to $59.66. $59.66 is the current support level. In the week of May 23rd, the price rallied and the bulls were able to get the price to $64.68 which was the closing price for the week.

This recent bull run might not be maintained as the bears might overpower the bulls and push price lower to reach $60. If the price eventually breaks $60 to the downside, the price might continue to fall further.

May 26, 2022May 27, 2022

FTSE 100 Index consolidates above 7000

The FTSE 100 Index is a share index of 100 companies listed on the London Stock Exchange. The total market cap as of April 2022 was £1.996trillion. It was launched on the Stock Exchange in 1984 by the FTSE group at an IPO price of 1650. Over the last three decades, long-term investors in FTSE 100 have seen its price reach an all-time high of 7900 which occurred in May 2018.

Enter COVID-19. FTSE 100 had been ranging pre-Covid after the all-time high in 2018. In March 2020, the price fell as low as 4800 which could have been a result of the slump in stocks across the world during that time. Following the lockdown ease, price rallied back above 7500 which was close to the all-time high of 7900 in 2018.

Since the beginning of 2022, the highest opening price on the monthly chart is 7523 which was in February 2022. The worst close also was in February 2022 at 7388. RSI gave no indication that price has been overbought both on the weekly and monthly charts. Price is currently in the upper region of the Bollinger Bands on the longer timeframes. A breakout to the upside might occur as price looks to hit a new all-time high at a psychological level of 8000.

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

May 23, 2022May 27, 2022

EURUSD Rebounds

Since December 2020, EURUSD has been on a bearish trend. Each time the pair tries to gather momentum in the upward direction, the bears counteract the movement and the price heads back downwards. Since Q4 2020, $EURUSD has lost over 1900 pips.

Since the beginning of 2022, the strength of the bulls have been minimal as the price has been pushed downwards in favor of the US Dollar. The war between Russia and Ukraine has led to Russia cutting the gas supply to some European countries and this may be a contributing factor to the weakened Euro. More so, the inflation hitting economies worldwide may also be a reason why major currencies can’t seem to rise against the US Dollar.

About four weeks ago, EURUSD fell below 1.0600 for the first time in five years. On the 13th of May, 2022, the price of EURUSD was as low as 1.0350. However, in the last two weeks, the Euro has appreciated against the US Dollar. Price has been able to rally to 1.0680 which is over 300 pips gain in the last week. In the coming weeks, the bears might push price lower again below 1.0470.

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

May 19, 2022May 27, 2022

Tesla Share Price Continues To Fall

Since April 2020, the charts on Tesla have been bullish. This upward trend occurred in spite of the pandemic that crashed many stocks. The price at the beginning of the bull run in April 2020 was $100 per share after the stock split. (Please note that all prices are quoted since the stock split in August 2020). This continued until the end of the year despite little corrections in between. The $TSLA price soared on this bullish energy to an all-time high of $1,245 in November 2021.

There has been a huge correction since the all-time high in November 2021 as price has been falling. This bearish run saw a little bullish movement which occurred in March 2022 with the price experiencing a temporary rally. The bulls, however, were counteracted by the bears and the price continued its downward trend. In Q4 2021, our analysts concluded that the share price of Tesla could go below $1000 after reaching a new high at $1092 in October 2021.

Tesla’s price is currently at $709.81 per share. The worst closing price on the monthly chart since May 2021 was $625. This bearish run might push the price down towards $600 per share. RSI has indicated that the price has been overbought on both the weekly and monthly charts since November 2021.

May 17, 2022May 26, 2022

USDJPY Reaches New High In 20 years

Looking at the Monthly chart, the lowest price ever that USDJPY reached was 75.486 which was in October 2011. This price became the support at that time and it lasted from that time up until February 2012. Price began to rally in February 2012 and USDJPY has been majorly bullish ever since then, with little pushback from the bears which occurred in 2016.

In 2015, resistance was established at 125.647 but this correction that occurred in 2016 caused a dip in price to 99.009. In 2017, the pair got caught in a range that stretched until 2021. The upper limit and the lower limit of the range were 118.382 and 101.162 respectively. In 2022, this range was cleared up and the price broke 2015 resistance, which reached a new high at 131.298 in April 2022. The last time USDJPY hit this mark was in April 2002.

As of May 17, 2022, USDJPY is at 129.346. On the daily, weekly, and monthly charts, RSI is overbought. This means that, from a technical analysis standpoint, price looks to fall below 127.500 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

May 13, 2022May 17, 2022

Investors Lose Big As Cryptocurrency Market Crashes

Pandemonium has taken over the cryptocurrency space as Bitcoin and its counterparts plunge drastically while others have crashed completely. Many investors in cryptocurrency have been caught unawares by the sharp fall of most cryptocurrency assets in the last few weeks. Here is an outline of how much value (in %) the major cryptocurrency assets have lost in the last 7 days:

Bitcoin, the crypto with the highest market cap, has lost 27%
Ethereum has lost 32%
Binance coin has lost 32%
Ripple has lost 39%
Cardano has lost 44%
Solana has lost 50%

The price of Luna at the beginning of the week of May 9, 2022 was $63. As of May 12, 2022, Luna was at $0.12 which is about 99.8% loss of its value in the last 7 days. So far, this is the biggest loss of all Cryptocurrency assets. Before this crash, Luna was the 6th largest cryptocurrency by market cap. As a result of this crash, it has lost that position.

Looking back, Bitcoin surpassed $1Trillion in April 2021. As it stands right now following the crash, Bitcoin has lost over 50% of that all-time high market cap. However, Bitcoin still maintains the number one spot in the Cryptocurrency market with a market cap of $544Billion. As of today, May 12, 2022, Bitcoin is currently at $28,000.

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

May 11, 2022May 11, 2022

Silver Price Hits New Low

The price of Silver had a smooth bullish run post-Covid. The support level of Silver in March 2020 was $11 per ounce. Price rallied to reach $29 per ounce in August 2020. After Silver’s price hit $29, it has since been consolidating. That is to say, Silver’s price has been ranging between $21 and $29. This range has spanned from August 2020 till now.

In March 2021, a rally occurred that pushed the price to $30 per ounce, but the momentum wasn’t sustained and the price reverted back into the range. In March 2022, we published an article where we forecasted that Silver’s price rally (and the rally of other commodities) will not be sustained. On March 7, 2022, Silver’s price was at $25.555 per ounce.

Just as our analysts forecasted, the rally was only able to push the price to $26 after which it began to fall and at the close of May 10, 2022, it was at $21.172. From a technical standpoint, RSI shows that the price has been oversold on the daily time frame. The bearish run might still continue as Silver’s price could reach $20 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.