FaithMight - Page 6 of 79 - Market commentary and analysis insights. Brought to by FM Capital Group.

October 26, 2023October 26, 2023

Crude Oil Price Could Fall In The Coming Weeks

Crude Oil is a major commodity in the world as it is used for production and logistics of good and services globally. The price of crude oil was at a high in 2022 at $130.75. Afterwards, price began to fall, and this fall continued until price reached $64 in May 2023. The $64 price level makes it a 2-year low.

The second half of this year seems to be good for the bulls as price rallied from the support level in May 2023 to $94 in September 2023. A resistance level has been formed at this $94 mark. On the daily, weekly and monthly charts, RSI has shown that price has been overbought. The bearish turn might push price lower and price might reach a new 2-year low. If the crude oil price falls below the $64 price level this quarter, then all gains for the year is lost. Chances are that this fall is a result of the ongoing wars. But we’ll find out eventually.

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.

October 19, 2023October 19, 2023

Gold Bounces As Bulls Gain Momentum

In October 2022, the price of gold fell to $1617 per ounce, after price had reached $2071 in March 2022. This price dip is one of the worst falls Gold has had since its been traded. A major support level was formed at $1617. There was consolidation for about 8 weeks before a bounce in the price of $XAUUSD started in November 2022. The bounce made the price of gold reach a previous resistance level of $2071 in May 2023. At different times in the past, in August 2020, March 2022 and May 2023, the price of Gold has maintained this resistance level at $2071.

In the past three years, the price of Gold has been moving between $1617 and $2071. From the recent top in May 2023, price fell to a support level of $1810 in October 2023. The current price of Gold is at $1948. We might be seeing price rally to $1990 in the coming weeks, The RSI on the daily chart has shown that the price is oversold.

October 10, 2023October 10, 2023

Nvidia Share Falls After An All-Time High

Nvidia Share Price falls after an All-time High

Nvidia Corporation is an American Multinational technology company founded in April 5, 1993. Nvidia Corporation is one of the largest developers of graphics processors and chipsets for personal computers and game consoles. Nvidia has a market cap of $1.118 Trillion as of October 2023. As of this year, Nvidia had a workforce strength of 26,196 and has made a revenue of $26.97 billion.

Unlike many other stocks, Nvidia investors enjoyed a smooth ride during the 2020 lockdown. Prior to 2020, the support level of Nvidia was at $28 per share in December 2018. The bulls picked up momentum and a rally began that would last between December 2018 and November 2021 when price peaked at $347.

A major fall in the price of Nvidia occurred after price hit $347. The reversal in price made price reach $103.61 in October 2022. That is to say, for the most part of 2022, the bears were in charge of the Nvidia stock. There was a bounce in November 2022. This bounce began from the 2022 low at $103.61 and continuously rallied until price broke the $347 high. An all-time high has been reached at $500 and this happened in August 2023. Recently, price corrected and fell to $410 in September as RSI has been overbought multiple times since January. In the coming weeks, we might see price rally back to $490.

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.

September 29, 2023September 29, 2023

Dow Jones Falls Below $34,000

The price of Dow Jones at the beginning of 2023 was $34,000. Similarly to the S&P 500, the Dow enjoyed a post-lockdown rally. Despite the lockdown low of $18,335, the rally pushed price to an all-time high of $37,000 in January 2022. The Dow Jones is one of the oldest and most commonly followed equity indexes. The $DJI includes only 30 large companies. As of May 31, 2023, the market cap of the Dow Jones was $10.9trillion.

Last year was not a good year for the Dow Jones as gains from 2021 were lost up until October 2022 when the bulls were able to regain hold and push price up. In October 2022 alone, $DJI rallied with 4000 points. This rally has continued and 2023 has seen price rally to the year high at $35,660 in July. The rally was counteracted by a bearish turn almost immediately on the monthly chart.

RSI on the monthly chart shows price has been overbought. At the beginning of this week, the bears pushed the price of Dow Jones below $34,000. This price drop made price reach $33,315, the lowest price so far in the second half of 2023. In the coming weeks, we might see the price of $DJI rally to a psychological level of $35,000.

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 stock index in your portfolio? Schedule a meeting with us here.

September 25, 2023September 25, 2023

Gold’s Bears To Push Price Lower

Gold experienced two highs between 2020 and 2022, which signifies a double-top on the monthly chart. This double-top was at $2069, one in August 2020 and the other in March 2022. A price drop to $1616 occurred after this double top. Between September and October 2022, the bears lost their momentum and the price of gold began a major rally in November 2022.

The rally that began in November 2022 made the price of gold reach an all-time high at $2082 in May 2023. Since the all-time high, the lower highs and lower lows pattern has been formed on the daily chart. The price of gold is currently at $1932, we might be seeing the price fall to $1914 in the coming weeks.

September 18, 2023September 18, 2023

Bitcoin Could Fall To $25,000

From its all-time high of $69,200, Bitcoin crashed to $15,474 establishing a 2-year low. This massive fall halted in November 2022. A bounce from the low started in 2023, as the price of Bitcoin rallied to $31,989 in July 2023. This price is the highest price $BTCUSD has hit this year.

As of the time of this writing, the market cap of Bitcoin stands at $515billion and the price is at $26,440. BTC has rallied by 1.95% in the last 7 days. We might be seeing the price of Bitcoin fall to the psychological level of $25,000 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 cryptocurrencies in your portfolio? Schedule a meeting with us here

September 14, 2023September 14, 2023

SPX To Rally Above $4,500 Again

The stock index has gained over 600 points in 2023 despite a huge fall in 2022. After the price of SPX reached an all-time high of $4822 on the second trading day of 2022, the bears took charge as price reached $3493 – the lowest price of SPX since November 2020. SPX in the next one year has the potential of rallying past $4700. However for now, we might see a short-term rally, after which we might see price falling below $4000 in the coming months.

On the 27th of July 2023, the price of SPX reached a 2023 high at $4613. There was a correction after this milestone was reached. The correction made price fall to $4341 on the 18th of August. Price of SPX at $4341 currently stands at a temporary support level. The bulls have been able to push price higher. The current price of the S&P 500 stands at $4461. We might see a rally in the coming days above the psychological level of $4500.

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 indicies in your portfolio? Schedule a meeting with us here

September 5, 2023September 6, 2023

Crude Oil Price Reaches 2023 High

The year 2022 was not a good year for Oil investors as the downward slope that started in March 2022 continued to the end of the year. The highest price level of WTI crude oil in 2022 was at $130.75 per barrel. The last time price touched this price level was in July 2008, approximately 15years ago.

The downward slope continued in the first half of 2023. Price fell to $63.76, the lowest price since November 2021. The bulls in the second half of this year have managed to push price high from the support level of $63.75. A new 2023 high was reached last week as the WTI oil price hit $86.19, the highest price level in 10months. On the monthly chart, RSI has shown that price has been overbought but we foresee price still moving upwards. The current price of WTI crude oil is at $85.23. We see a rally to $87.65 in the coming days.

August 29, 2023August 29, 2023

AMC Entertainment Holdings Lost 11% On The First Trading Day Of The Week

AMC Entertainment Holdings, Inc. is an American movie theatre chain founded in Kansas City, Missouri in 1920. The AMC Entertainment has the largest movie theatre chain in the world. The value of $AMC has been reducing since June 2021 after price reached an all-time high at $394.62. The bears has pushed price lower and have given no chance to the bulls to take over. As of the close of market on Monday, August 28, 2023, AMC share price fell from $11.99, which was the opening price for the day, to $11.07, which was 10.94% drop in price, approximately 11%.

On the monthly chart, it has been a woeful month for this stock. Currently in August, it has lost 74.76% of its value. The opening price in August was $43.50 and price is currently at $11.07. The price level reached yesterday shows price hit a major support level, which is the all-time low.

On the daily chart, price is oversold, which could be an indication for a bounce. There have been a few gap downs since August 15, we might see price recovery and gap downs being closed.

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

August 23, 2023August 23, 2023

Apple, Microsoft Reach All-Time Highs

Apple is an American multinational technology company in the USA. Apple is the world’s largest company by revenue, with $383.93 billion in 2023. Microsoft on the other hand is also an American multinational technology corporation, with a revenue of $211.91 billion. These two companies are part of the Big five American information technology companies alongside Alphabet, Amazon and Meta Platforms.

Based on market cap, Apple and Microsoft lead the companies globally with $2.738 Trillion and $2.366 Trillion respectively. The year 2022 was not a good year for Apple investors as price dipped to $124.44, from the highs of $174.44. The year 2023 has shown relief for investors after price jumped from the support level of 124.44. The rally this year has made the share price of Apple reach an all-time high of $198.50.

Microsoft also had a major bearish run in 2022 as price fell from the high of $350.02 to $211 in November 2022. The bounce in 2023 has made the share price of Microsoft reach an all-time high of $367 in July 2023. For both stocks, a correction has occurred this month. We might see a continued price rally in the coming weeks as $AAPL cold reach $195 per share from the current $174.74, and Microsoft could reach $340 from the current price of $319.

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.