FaithMightFX - Page 5 of 75 - Market commentary and market analysis. This is really my view, sometimes...

April 20, 2023April 20, 2023

Microsoft Share Price Reaches 2023 High

Microsoft is an American company that develops and distributes software and services such as a search engine (Bing), cloud solutions and the computer operating system, Windows. As of April 2023, Microsoft has a market cap of $2.129 Trillion. This makes Microsoft the world’s second most valuable company by market cap. According to Microsoft’s latest financial reports the company’s current revenue is $204.09 billion. In 2021, the company made a revenue of $184.90 billion which was higher than that of 2020 at $153.28 billion.

Last year was not so good for $MSFT after price dipped from the year’s high at $326 and closed at $238. There seems to be a bit of hope as Microsoft share price has rallied and it is about to reclaim the $300 threshold. Price currently stands at $286.89.

On the 6th of April, Microsoft’s share price reached $292, making it the highest point that Microsoft’s share price has reached in 2023. The stocks of several tech firms are currently appreciating, which is reflected in the S&P 500. Our analysts see Microsoft’s share price reclaiming the $300 pyschological level 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 stocks in your portfolio? Schedule a meeting with us here

April 18, 2023April 18, 2023

Manchester United Plc Shares Fall To 2023 Low

Manchester United Shares Fall To 2023 Low

Manchester United Football Club, commonly referred to as Man United (often stylized as Man Utd, Man U or simply United), is a professional football club based in Old Trafford, Greater Manchester, England. The club competes in the Premier League, the top division in the English football league system. It is nicknamed the Red Devils. Manchester United was listed on NYSE in August 2012.

Since the price of $MANU reached $27.74 in August 2018, which currently stands as the all-time high, price has been falling and it eventually fell to an all-time low at $10.50 in July 2022. There was a sudden rise in the latter part of 2022 as price of MANU jumped. This jump made price reach $27 in February 2023 which is a 4-year high.

The family that controls Manchester United is reportedly leaning toward bringing in a minority investor, and not selling out the famous British soccer club. Investors hoping to cash in on a premium valuation were disappointed, after the shares of Man U went down as much as 10.63% on Monday, the 17th of April. Price has consolidated since the beginning of the year. This consolidation has made price fall to the current 2023 low at $19.07.

On the larger time frames, price is currently being controlled by the bulls. We might be seeing price rally in the coming weeks to $23 from the current price of $19.74.

April 14, 2023April 14, 2023

WTI Oil Price Reaches 2023 High

The opening price of WTI in 2023 was at $80.50. The price movement since the beginning of the year had been between $72 and $82 per barrel. Before this week’s rally to $83 per barrel, the highest price of crude oil had been $82.56 which was between January 18 and 23. A breakout to the downside was imminent which we wrote in our previous article. On the 14th of March, the price of crude oil reached a new 2023 low as a result of the downward breakout as price reached $64.

There was a price rally mid-March which made price reach the upper region of the Bollinger Bands. On the first trading day of April, there was a gap up in the price of Oil. The closing price on March 31st was $75, but as a result of the gap up, price was able to cross the psychological level of $80 on the first trading day of April 2023. We might see price reach a new psychological level at $90 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 commodities in your portfolio? Schedule a meeting with us here

April 11, 2023April 11, 2023

Solana Lags As Other Crypto Assets Find New Highs

Solana is the tenth biggest crypto asset by market cap at over $8Billion. Typically, Solana’s price moves in tandem with other crypto assets like Bitcoin and Ethereum. In 2022 as other crypto assets went bearish, it followed suit and was all-bearish as well.

Solana’s high for last year (2022) was $179 and the low for the year was $7.80. It closed for the year at $9.46 and opened in 2023 at $9.98. Relief knocked on the doors of the crypto world and Solana’s bulls went into action early in January. By mid-January, price had rallied above $20. So far, this year’s high is $27 and that occurred in February.

On a broader scale however, the weekly chart to be precise, it seems that Solana’s price was set for a range rather than a rally. Since the high in February, price has stalled while other crypto assets have picked up steam in the bullish direction. March and April have seen many crypto assets find new highs.

Solana is currently at $20 and RSI indicates that price is overbought on the weekly chart. Judging strictly from the RSI standpoint, price is supposed to dip. However, we think we might see a breakout to the upside above $27 in the coming months.

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 cryptocurrencies in your portfolio? Schedule a meeting with us here

March 30, 2023March 30, 2023

The Crypto Rally Everyone’s Been Waiting For

The global crypto market cap is $1.14T, a 1.97% decrease as of 27th of March 2023. Bitcoin’s dominance is currently 46.02%, a decrease of 0.35% over the previous day. As of the time of this writing, the total crypto market volume in 24 hours was $45.45B, which makes a 38.21% increase. The total volume in DeFi was currently $3.88B, 8.54% of the total crypto market 24-hour volume. The volume of all stable coins was at $41.16B, which is 90.56% of the total crypto market’s 24-hour volume.

This shows that more investors are beginning to put funds in stable coins to purchase crypto assets in the future. Based on the market cap of cryptocurrencies, here are the top 5 cryptocurrencies and their market caps: Bitcoin $523Billion, Ethereum $213.6Billion, Tether $79.45Billion, BNB $49Billion and USD coin $33.4Billion. Since the creation of cryptocurrency, Bitcoin has topped the list. After Bitcoin’s all-time high was reached in 2021 at $69,149, the price of Bitcoin began to fall which made 2022 one of the worst years for crypto investors. Price of most crypto assets fell badly as Bitcoin hit $15,749 and Ethereum hit $891 from the all-time high at $4860.

Prices of many cryptos have been ranging for some months now, the bears’ momentum is quite low at the moment. Indications show that the price of crypto assets will appreciate in the next few weeks as we might see Bitcoin above $60,000 and Ethereum above $3,600. This will in turn appreciate the value of NFTs.

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 cryptocurrencies in your portfolio? Schedule a meeting with us here

March 29, 2023March 29, 2023

First Republic Bank Shares In Historical Fall

First Republic Bank Shares In Historic Fall

First Republic’s stock fell 47% to a record low on Monday, 20th of March 2023. This fall is historical as price dipped to its all-time low at $11.56, below the IPO price at $27.50. First Republic Bank had its IPO on the week of the 6th December 2010. Investors have enjoyed a smooth rally over the last decade. Following the recent bank failures, investors apparently aren’t optimistic about the bank’s prospects so First Republic Bank received a $70 billion loan from JP Morgan and another $30 billion lifeline from a consortium of banks in order to strengthen its capital and liquidity positions. Despite this, $FRC still reached an all-time low.

Trading activities were halted several times for volatility, and they sank further after a report from the Wall Street Journal said rival banks led by JPMorgan (JPM) are trying to work on yet another rescue plan for First Republic.

2023 seems to be the worst year for $FRC shareholders despite the opening price of the year being $197.14. $FRC is currently at $13.82, which means it has lost 92.9% of the value it had at the beginning of the year. There has been a little rally in the share price of $FRC as price closed with a profit of 11.81% at the close of market on the 27th of March, 2023. RSI is currently oversold on the daily chart. Price of $FRC could range for the next few weeks before a rally might occur.

March 23, 2023March 23, 2023

Layoffs, A Probable Cause Of Amazon’s Drop In Share Price

Amazon's Layoffs Linked To Share Price Fall

Amazon’s share price since it reached its all-time high at $189.78 in July 2021, has been falling. In December 2022, price hit $81 which is the lowest price since March 2020. Currently, $81 is the support level.

As 2023 opened, price initially consolidated around the support level. But in the second week of January, a bounce occurred. This bounce lifted price to $114.22 by the second day of February 2023. This is the highest price that the Amazon stock has attained in 2023.

After this rally, price dropped. As at last week on the 13th, Amazon’s share price had fallen to $88.71, the lowest price so far this month. There was a bounce that took price to $100 but the bears suddenly kicked in. Our analysts have come to conclude that this bearish takeover was probably a result of the recent mass layoff by Amazon. With this recent layoff, Amazon has totaled 27,000 employees that it has laid off this year.

Taking all this into account, our analysts think the bulls will reclaim the reins from the bears soon and price will rise to $120 in the next few weeks.

March 15, 2023March 15, 2023

Bitcoin Falls Below $22,000

Bitcoin has been in a range between $15,470 and $18,373 since November 2022. A breakout to the upside occurred on the 13th of January, 2023. Since the breakout, the pressure from the bulls have continued, causing January to end on a bullish note.

The bullish run continued in February and the price of Bitcoin hit a new high at $25,200. After this, the price fell to $19,560 but then the bulls took control again and price headed to $26,530. From a technical standpoint, the bulls are gathering momentum for a major bull run.

Looking at the RSI, price has been oversold since July 2022 on the weekly time frame. As of the time of publishing this article, Bitcoin is at $24,700. Our analysts forecast that in a few weeks, price will reach $30,000 psychological level.

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

March 9, 2023March 9, 2023

Crude Oil Price Locked In Range

According to CNBC, the Russia-Ukraine war has remapped the world energy supplies, putting the United States at the top for years to come. This week new data from the U.S. government showed the U.S. exported a record 11.1 million barrels a day of oil and refined products. Not since the aftermath of World War II has the U.S. been so important as an energy exporter.

Since November 17, 2022 up until, the WTI price has been locked in a range between $70.10 and $83.10. A breakout might occur to the downside in the coming weeks as price could fall below $70. Since the beginning of 2021, RSI has indicated that price has been overbought five times on the weekly chart.

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

March 6, 2023March 6, 2023

Gold Slumps. Establishes Year’s Low.

2022 was woeful for Gold. It opened for the year at $1825. Price rallied for the first quarter until it hit $2078. That price was the highest point of Gold for the year 2022. After this high, price dropped sharply to $1893.

Price then bounced and a rally tried to get price back to the previous high. Unfortunately, when price hit $1998, the bears became aggressive as price dropped to a two-year low of $1614 in September 2022. This price was retested in October and November and then a rally began. The rally that began in Q4 2022 continued into 2023.

The opening price of Gold for 2023 was $1822. The rally continued for all of January and the month closed bullish. This same rally continued for the first two days of February and price reached $1961, which is 2023’s high. After price hit this mark, there was a sharp drop in price in February. This drop made price fall to $1807, the lowest in 2023. This price is currently acting as the year’s support.

Since price hit $1807, it has bounced. Price is currently at $1852. Our analysts think price will continue to head upwards towards a psychological level of $2000.