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

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.

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.

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.

March 11, 2022March 11, 2022

ExxonMobil Reaches New High Since 2016

Any investor who bought Exxon Mobil shares in November 2020, which at the time was $31.07, would have recorded a continuous gain because the $XOM share price has been bullish since the 2020 global lockdown was eased. This bullish run that began towards the end of 2020 was activated by the double bottom in March 2020 and November 2020.

The share price of ExxonMobil didn’t make any significant movement in the year 2021 as prices range for most of the year between $52.14 and $66.09. Exxon Mobil’s share price opened for the month of March 2022 at $78. But the share price shot up to $91 on the 8th of March 2022. This spike is a result of crude oil prices reaching a new high of $130 per barrel.

After the price of Exxon Mobil reached $91, which is the highest since 2016, a gap down occurred and the gap down is yet to be filled. Just yesterday (March 10, 2022), crude oil price dropped 12% as the price fell from $123 per barrel to $108 per barrel. This recent spike in Exxon Mobil’s share price might continue if the crude oil price finds its bullish momentum and continues its rally. RSI has indicated overbought positions at two different times between January and March. In the coming months, a dip to $60 might occur.

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.

March 9, 2022March 11, 2022

Netflix Share Price Continue To Nosedive

Netflix had its IPO in May 2002 at $1.15 per share. In the first few months of going public, the share price went as low as $0.35. The share price ranged for about seven years with a resistance level of $5.80. The price broke the resistance line in 2009 to reach a new high of $43. From a fundamental analysis standpoint, this breakout was partly due to the positive comments coming from their business model change from DVD to streaming.

In the latter part of 2011 after the price reached $43, the share price saw a dramatic slump to $8. It dipped even further in 2012 to $7. However, the candlesticks in the last three months of the year 2012 all closed bullish which for the investors, was a silver lining in the dark clouds. As the year 2013 began, this bullish momentum exploded and the price rallied over the years to an all-time high of $700 in November 2021. This bullish trend was a marathon with few corrections that ran for nearly a decade (from 2012 to 2021). Every Netflix investor smiled to the bank during this period.

However, since the month of the all-time high in 2021, all candlesticks on the monthly chart have closed bearish. As of March 8, 2022, Netflix had lost more than 50% of its all-time high value. In August 2021, we forecasted a fall in the value of $NFLX to $409. Price fell beyond this expected price level. On the weekly chart, RSI has indicated that the price has been oversold since January 2022. This might be an indication that the price could rally in the coming months from its current value of $341 above $615.

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.

March 7, 2022March 7, 2022

Commodities Skyrocket Amidst Russia-Ukraine Tensions

Since the beginning of the Russian military invasion of Ukraine, prices of most commodities have headed in a strong bullish direction. On Monday, 7th of March 2022, the price of Gold hit $2002 per ounce in a gap up. The last time it reached this price was in August 2020. The year’s support line is at $1780 per ounce.

The price of silver reached a new resistance level at $26.1 per ounce. The last time Silver’s price was at this level was in July 2021. The year’s support level is maintained at $21.9 per ounce.

The price of Brent Crude Oil opened for the week at $129 per barrel. It appreciated for some hours to $130.55 after which it began to drop. As of March 7, 2022, the price of Brent Crude Oil is at $122 per barrel. WTI Oil opened at $121 per barrel and rallied up to $130.55 before it began a descent. WTI Oil’s price is currently at $119.

We don’t see the commodity price sustaining this rally over the long-term as the Russian military forces might cease-fire in a few weeks following strong sanctions from the international community of nations. The conflict may also be suspended soon if Putin and Zelensky can come to an agreement.

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

March 7, 2022March 11, 2022

EURUSD Experiences Worst Fall Since Mid-2020

The EURUSD pair opened for the year 2022 at 1.13832. The price rallied for some time until it surpassed the year’s opening price. In the same month of January, the rally halted and the price took a bearish run below the year’s opening price. On the last day of January, the price was 1.12376.

In the first few days in February 2022, EURUSD rallied to the year’s resistance at 1.14949. However, since February 10, 2022, price has been falling reaching a new low on Monday, 7 March 2022, at 1.08112. This new low was last reached on the 18th of May 2020. Looking at EURUSD on the monthly chart, between mid last year and now, the pair has lost about 140 pips.

Indications from RSI showed oversold positions in November 2021 and December 2021. On the weekly chart between Week 3 and Week 4 in February 2022, there was a gap down. Price closed in Week 3 at 1.12711 and opened in Week 4 at 1.11178.

In the coming weeks, the gap down might be filled as EUR gains against the USD and the price could go above 1.12062. Price is currently at the lower region of the Bollinger Bands but we should watch out for the bulls.

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

March 1, 2022March 1, 2022

Etsy Dips To A New Low

Etsy is an American Vintage e-commerce company focused on handmade and vintage items and craft supplies. Etsy was founded 16 years ago and went public about 7 years ago at $16. On the day of the IPO, the share price rose by 72%. After 9 months of its launch on the stock exchange, it took a bearish turn and hit an all-time low at $6.04.

From January 2016, $ETSY share price took off in the bullish wave. In November 2021, Etsy’s price reached a new all-time high at $308.96. That high reflected on the RSI as an “overbought” indication. Following that all-time high, the share price fell and so far, the share price has lost 65% of the price of the all-time in November 2021. The most recent price dip did not indicate oversold on the RSI despite the 65% fall in price. The crisis between Russia and Ukraine has not really affected the US stocks as $ETSY has been appreciating from the new low at $108.53 for the past two weeks. This appreciation could lead to a long-term rally that could see $ETSY gaining 100 points.

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

February 27, 2022March 1, 2022

Beyond Meat Slumps By 9.2% In The Stock Market

Beyond Meat went public in May 2019 and its IPO price was $45. From the month of the IPO to July 2019, which was under 90 days, Beyond Meat’s share price shot to $240 which became its all-time high. Following the dramatic surge in share price, Beyond Meat lost its momentum and took a downward slope over an 8-month period to $48 in March 2020.

Despite the share price almost falling back to the IPO price, the bulls were not giving up on Beyond Meat just yet, and so the bulls became active and it led to a rally in price to $220 in January 2021. The bears have been aggressive since then and for 12 months straight, Beyond Meat’s share price has kept falling.

On the 25th of February, Beyond Meat’s share price closed for the first time ever below the IPO price at $44.49. RSI has been oversold since December 2021. Taking into consideration the RSI readings and other technical indications, the bulls might become more aggressive in the coming months and the price may rally above $154 which is about 3X the current 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 and commodities in your portfolio? Schedule a meeting with us here.