FaithMight - Page 20 of 78 - Market commentary and analysis insights. Brought to by FM Capital Group.

April 6, 2022April 6, 2022

Nike Investors Look Forward To A More Profitable Q2 2022

Nike stock, for the most part of its lifespan on the New York Stock Exchange, has been an Investor’s Paradise. It has been able to achieve over 8X since it went public in 1980. The apparel & footwear giant hit its all-time high in November 2021 at $178. Between November 2021 and March 2022, Nike took a dramatic fall downwards to $116, a $62 loss, leading to a new support level at that same $116 price mark.

There are indications of the price being oversold on the RSI weekly chart. Analyzing the candlestick formations, the candlestick on the week of March 14 forms a bullish engulfing pattern which consequently wipes out the bearish momentum of the previous candlestick on the week of March 7 (see yellow circle). This means that a bullish run could be underway in a few weeks.

This rally – if it occurs – could fill up the gap-down that occurred earlier in the year between the weeks of January 3 and January 10 respectively. Price could ride this bullish wave to hit $171 although the price is currently in the lower region of the Bollinger Bands and is still gathering momentum.

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.

April 5, 2022April 5, 2022

Facebook Share Price Sets To Appreciate Beyond $300 Psychological Level

Facebook opened the year 2022 with a share price of $337, after it ranged for the most part of Q4 2021. Through the last quarter of 2021, the price ranged between $299 at the lower end and $353 at the upper end. The first breakout to the downside occurred on January 24, 2022. This breakout only lasted for a few days and the price found its way back into the range. On February 2, 2022, the price closed at $323 which was still in the range.

However, on the next trading day (February 3, 2022), a gap-down occurred which made the share price open at $244. At this point, the price was outside of the range and a bearish movement had kicked in as a result of the gap-down. The price kept falling till it hit a new support level at $186. This fall wiped out the profit that was made between June 2020 till September 2021 (the month when the price reached an all-time high at $384). The last time the tech giant’s share price got this low was in April 2020.

On March 16, 2022, the price bounced off the support line. RSI indicates oversold positions on the weekly timeframe. Could this be the bull run investors in $FB have been waiting months for? If this bull run continues, the share price could go beyond a psychological level of $300 and hit $368.

April 1, 2022April 1, 2022

MARCH RECAP: Reviewing Forecasts, the Current Situation, and the Validity of the Calls

ETSY
On 01/03/2022, we forecasted that Etsy will appreciate 100 points. Throughout March, Etsy’s share price has been ranging between $117 and $164. On a longer timeframe, this represents a consolidation that could lead to a bullish breakout as we have analyzed. Etsy is still in the range but the breakout is still to be expected.

EURUSD
On 07/03/2022, our analysts forecasted that EUR will gain against the USD. The expected target is 1.12062 which is a gain of 310 pips from the price it was on the day it was called. Since the call, the pair has hit 1.11854 which is about 289 pips gain. Price has corrected but the bullish trend hasn’t lost steam and the forecasted target is still in position.

COMMODITIES
In March, Gold, Silver, and Oil saw a bullish rally that was largely due to the Russia-Ukraine conflict. We forecasted that the rally will not last and will eventually fall. Two days after our forecast Gold fell from $2070 to $1928. Silver fell from $25.555 to $24.650. Oil also fell from $119 to $100, where it currently is.

NETFLIX
On 09/03/2022 Our analysts made a forecast that Netflix will hit $615. Netflix was at $341 when we made the forecast. Netflix’s share price is currently at $374 and the call is still valid.

EXXONMOBIL
On 11/03/2022, ExxonMobil’s share price was $84. We forecasted a dip to $60. It is currently $82. Currently, the price is caught up in a range but this would not hinder the price from staying on course towards the forecast.

GBPUSD
On 15/03/2022, we forecasted a rise in GBPUSD from 1.30642 to 1.34298. It rose to 1.32984 which is more than a 50% gain. The price has corrected but the bullish trend is expected to continue.

NZDUSD
On 24/03/2022, we forecasted that NZDUSD will drop from its position on the day of the forecast at 0.69559 downwards to 0.67374. Since the forecast, the pair has dipped to 0.68723 which is more than 83 pips. The price has retraced but the bears are still in action and the call remains valid.

APPLE
On 28/03/2022, we made a forecast that Apple’s share price will rise above the previous all-time high of $182.93. Although this call is in its nascent stages, the price rallied to $179 from $174. Despite corrections, this bullish rally is still in play, and therefore, this call remains valid.

AIRBNB
On 30/03/2022, AirBnB’s share price was $175. We made a forecast that the share price will hit $192. The share price for the online marketplace for rentals & lodgings is currently falling but this is a minor retracement. The call is barely 48 hours and we look forward to the price heading in the direction of the forecast.

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, currencies, and commodities in your portfolio? Schedule a meeting with us here.

April 1, 2022April 4, 2022

Etsy Share Price Consolidates

American e-commerce company, Etsy, began to suffer a big loss in share price after an all-time high was reached at $307.57 on December 26, 2021. $ETSY has lost about $200 since its all-time high last year December. The bears have been more active since the beginning of the year 2022. Etsy opened the year 2022 at $222 but has since lost about $100, leaving it at $124.28 as at April 1, 2022.

In the past 5 months, there have been several indications of the price being oversold on the Etsy 4hr Chart . Etsy’s previous support level on the weekly chart was maintained at $155.15 since May 2021. The recent downward slide this year has made Etsy reach a new support level at $108.95 as of February 24, 2022. The next bull run for Etsy might make the price reach $278, which is over $105 gain from its current price. In a situation where the bulls continue to push prices higher than $278, a new all-time might be reached. As price consolidates, a breakout to the upside above $164, could be the clue for the next bull run.

March 30, 2022March 30, 2022

Airbnb Maintains $140 Support Level

On December 10, 2020, Airbnb went public with an IPO price of $146 per share. For the first two months after the IPO, the bulls were in action, rallying the price to an all-time high of $219 per share in February 2021. Following this all-time high was a price slump, with the price closing in May 2021 at $140, a price below the IPO. For the next three months after the price closed below the IPO price, the price ranged between $130 and $155.

In September 2021, the price broke out to the upside which initiated a new price rally that allowed the price soar to $212. Despite the gains accrued in the first quarter of the year 2021, the price closed for the year 2021 at $166. January and February 2022 must have made investors even more worried as the two months closed on a bearish note.

March, however, has been comparatively more bullish than the first two months of the year 2022. AirBnB’s share price is currently at $175. From a technical analysis standpoint, if the weekly candlestick closes in the upper region of the Bollinger Bands, we might see a bullish run that will shoot the price above $192 per share.

March 28, 2022March 29, 2022

Apple To Hit A New All-Time High

Apple hit a new all-time high of $182.93 on the 4th of January, 2022. Long-term Apple investors were able to benefit substantially from the new all-time high. The rally to the all-time high could not be sustained for long as the price of $AAPL slumped to a support level at $150.80. This could have been a result of the ongoing war between Russia and Ukraine; or the increase in inflation rate in the US. Over the last decade, $AAPL share price has been on a bullish run with few price corrections. Late into January and the whole of February 2022, there was a correction in Apple’s share price but this dip did not terminate the bullish streak.

Since mid-March 2022, the $AAPL bulls began to push price higher after an inverted hammer was formed on the 14th of March, 2022. The price of $AAPL closed at $149.66 on the day the inverted hammer was formed. The second and third week of March 2022 have shown that the bulls are about to push the price to a new all-time high in the next quarter. On the week of the 26th of March, $AAPL closed at $174.72, which was over a $25 increase in the price of Apple shares. This recent bullish trend is giving investors confidence in Apple as they hope that the price continues its rally.

March 24, 2022March 24, 2022

NZDUSD Finds New Support Level

As a result of the global pandemic in 2020, the NZDUSD went as low as 0.54724. Since then, the New Zealand Dollar has been able to appreciate against the United States Dollar in the past two years. Between these two years, the price hit a high of 0.74670, and this happened in February 2021. Last year, the bears were more active on NZDUSD and the bearish trend from last year found a new Support Line at 0.65340 which is about 1000 pips from the high in Feb 2021.

Despite the bearish turn in January 2022, the months of February & March 2022 have both been bullish. The NZDUSD pair is currently at 0.69511. This rally might not be maintained as RSI has shown multiple times that price has been overbought on the 1-Hour timeframe. Also, the price is currently consolidating on the 4-Hour timeframe. This consolidation might lead to a bearish turn that could drive the price down to 0.67374.

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.

March 21, 2022March 21, 2022

USD TO GAIN MOMENTUM AGAINST THE EURO

EURUSD opened in 2022 at 1.13685. The bulls attempted a rally but the upward movement wasn’t a strong one and in the process, a double top was formed. This double top happened between January 2022 and February 2022 and during this period, the price hit the year’s high at 1.14965. After the double top, $EURUSD dipped to 1.08062, about 700pips loss from the year’s high.

This month, EURUSD rebounded and made its way to January’s support at 1.11218. This upward movement has continued and the price has reached a monthly high of 1.11395 as of 17/03/2022. As suspected, this rebound is not evolving into a full-blown bullish rally as $EURUSD has begun to lose its bullish momentum. The price is currently falling even though there are no indications on the RSI that the price has been overbought on the 4-hour timeframe. If the price closes in the lower region of the Bollinger Bands, this might lead to a continued bearish run.

As the price continues its downward trend, technical indications show that the bears might be more active as the price might reach 1.08236 which may serve as the major support level for the first half of the year 2022.

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.

March 15, 2022March 15, 2022

UNCHARTED Podcast: Episode 3

Part 1

Part 2

part 3

part 4

part 5

part 6

In this episode, we reviewed last week’s market activities and the possible causes of the trends. From a fundamental analysis standpoint, the war between Russia and Ukraine is the news that’s having the biggest impact on the markets worldwide. The commodities market is seeing surges as a result of this news and investors seem to prefer USD over Crypto as a safe haven to protect the value of their money.

Here are highlights of the podcast:

Stock markets are majorly bearish as geopolitical tensions make markets unstable. Price could rally following ceasefire between Russia and Ukraine
The cryptocurrency market is down, with Bitcoin trading below $45,500 since the beginning of March. Bullish momentum has dropped for the cryptocurrency market so, price may not rally for the next couple of months. More on Bitcoin here
Commodities market are seeing a bullish rally. Read more here
Currencies: USD has been gaining against GBP since the last week of February. EUR appreciated against USD at the beginning of the second week of March but USD recovered towards the end of the week. More on EURUSD here
USDJPY & USDCHF were both bullish throughout the week. Although USD gained against CAD, CAD fought back and also gained against the USD towards the end of the week. See our forecast on USDCAD here
Russia sanctions, impact on its Oligarchs, and ties with China
Forecast on GBPUSD

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 and stocks in your portfolio? Schedule a meeting with us here.

March 15, 2022March 15, 2022

GBPUSD Finds New Support Level

In March 2020, $GBPUSD went as low as 1.14144. After this low, the bulls took over and a rally pushed the price to 1.42614, the highest price between 2018 and now. $GBPUSD opened at the beginning of the year 2022 at 1.35313. Since the beginning of the year, the price has appreciated from the opening price to 1.37512 which is currently the year’s high. The bulls however could not maintain this momentum as the bears hijacked the trend and pushed the pair to a new support level at 1.30020.

This new support level is lower than the opening price of the year which means GBP has lost all it gained this year against the USD. There are indications of a bullish run in the next couple of weeks which signifies that GBP will appreciate against the USD. On the daily time frame, RSI has indicated that the price is oversold. We forecast that the price will rise to 1.34298.