FaithMightFX - Page 6 of 76 - Market commentary and market analysis. This is really my view, sometimes...

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.

February 27, 2023February 27, 2023

AMC Appreciates By 16% In A single Day

The AMC Entertainment has the largest movie theatre chain in the world. It was founded in 1920. Also, AMC has the largest share of the U.S. theatre market. In 2016, AMC Entertainment acquired Odeon Cinemas, UCI Cinemas and Carmike Cinemas in 2016. AMC has 2,807 screens in 353 theatres in Europe and 7,755 screens and 93% of the theatres in the United States. It is listed on the NYSE and as of 2021, it had a revenue of $2.53 billion and a total staff of 31,198.

Just like many companies, AMC Entertainment had a tough 2020 as the company was shut down for 12 weeks which made the share price hit an all -time low at $1.03. 2021 was much better than 2020 as the share price reached an all-time high at $44.68 in June 2021, which was double the price of the previous high in 2015 at $22.45.

The unexpected happened as price of AMC Entertainment had a massive fall from the all-time high to $3.72 in December 2022. There seems to be relief as price bounced by 16% in a single day. Could this be the beginning of a huge rally for the AMC shares in the coming weeks? In December 2022, RSI indicated that price had been oversold, and a rally is expected. The rally could push the price above $10 in the next few 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

February 22, 2023February 22, 2023

Netflix Rallies As Gap Down Closes

The share price of American media company, Netflix, has been on a rally since May 2022. As of 2022, Netflix had a revenue of $31.6billion with a total number of employees at 12,800. Early in 2022, Netflix lost 200,000 subscribers from its platform and then in June 2022, it laid off 300 employees. The loss of subscribers may have led to these layoffs. Netflix Co-CEO Reed Hastings in June 2022 claimed that the current employee base will grow by 1,500 before the end of 2023.

In 2023 alone, tech companies have laid-off 93,000 workers in the US. Some of the numbers are Alphabet 12,000, Microsoft 10,000, Amazon 18,000, Crypto.com 500, Coinbase 2,000, Salesforce 7,000 among others. The current share price of $NFLX stands at $337.50 after a rally from the major support level in May 2022 at $163.02. Prior to the price hitting $163.02, there was a gap down from $331.04 to $245 in April 2022. Since the gap down, price ranged until a breakout occurred in October 2022. This rally has continued for the past 5 months.

The recent rally has made $NFLX recover from the losses it accrued as a result of the gap down in May 2022. We are hopeful price could appreciate further in the coming weeks. The psychological level of $400 might be reached soon.

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

February 20, 2023February 20, 2023

UNCHARTED Podcast: Episode 8

In this episode of the UNCHARTED Podcast, we discuss the Stock Market, Cryptocurrency Market and Forex Market. This episode features our analysts who called the Crypto crash while the cryptocurrency market was still going up in late 2021.

On the Stocks front, we discuss how tech stocks may see significant rallies this year and how other stocks might continue their bearish runs. On the Crypto front, we discuss Bitcoin and Ethereum and we give a detailed analysis on what might hold for these cryptocurrencies this year. Lastly on the Forex front, we look into the US Dollar and we discuss its strength and we also discuss the British Pound and the Pound-Dollar, GBPUSD, pair.

Watch the full podcast here:

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

February 15, 2023February 15, 2023

Disney Share Price Consolidates

The Walt Disney Company is an American Multinational mass media and entertainment conglomerate. Disney was founded in 1923, which is about a century ago. Disney is traded on NYSE as $DIS. As of February 2023, Disney’s market cap stood at about $197Billion. As of 2020, its total number of employees was over 200,000. After the share price of Disney reached an all-time high at $203.13 in March 2021, the value of Disney depreciated all through 2022 as price reached $84.13, which was the lowest price since March 2020.

The year 2023 seems to be bringing a bit of hope as January closed on a bullish note. The price has continued to rally in February as price reach a new high this year at $118.10, which occurred on the 9th of February. The $DIS bulls might push price higher in the coming weeks. Our analysts think the $DIS price could reach a resistance level at $140 if the rally continues. On the weekly chart, RSI indicates that price has been oversold. This could be good news for $DIS investors.

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

February 13, 2023February 13, 2023

Tesla Reaches 2023 High

Tesla is an American multinational automotive, artificial intelligence and clean energy company. As of February 2023, Tesla is one of the most valuable companies in the world, 7th position to be precise. The market cap of Tesla stands at $655.98 Billion. The opening price of Tesla in 2022 was $382.76, but the year wasn’t favorable to investors as the share price closed at $123.51 at the end of 2022 which was a 68% loss in value.

2023 opened for Tesla at $118. On the first trading day of the year, price fell to $102.70. The last time price fell to this point was in August 2020. $102.70 currently stands as the support level for the year and also a 3-year low. On the 9th of January, a bounce from this support level started and Tesla’s share price has since hit the $200 psychological level and surpassed it. $TSLA is currently at $196. Our analysts think price could continue to rally for the next few weeks as price could reach $300.

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

February 8, 2023February 8, 2023

Apple Share Price Continues To Rally

The American multinational technology company, Apple has shown a sign of relief from the bearish turn in the second half of 2022. Apple was founded about five decades ago. Over the years, the Apple team comes with new advancement in technology regularly. As of 2022, Apple has over 164,000 employees with a revenue of $394.33 billion. Apple’s market cap is currently $2.45Trillion and its current share price is $154.65.

According to data, Apple is the world’s most valuable company by market cap. In the last one year, Apple has lost 11.65% in its value. The drop in price of $AAPL started at the beginning of the 2022, which coincidentally was the day the all-time high was reached at $183. Price fell to $126.41 in December. Which was the lowest price in 2022. Price was able to bounce to $147 in January 2023 from the 2022 low of $126.41. This rally might continue until price reaches the psychological level of $160 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

February 1, 2023February 1, 2023

Shopify Rallies To A 9-Month High

Shopify is a multinational e-commerce company headquartered in Ottawa, Canada. As of 2021, the revenue of $SHOP was $4.61 billion with a total number of 10,000 employees. Shopify’s IPO took place on May 21, 2015, on TSX and NYSE at $17 per share. Right from its IPO, Shopify investors have enjoyed a rather smooth rally for years up until its all-time high at $176 in November 2021. After the month of the all-time high, the next 7 months closed bearish on the monthly charts.

In October 2022, price had dipped as low as $24.05 as a result of the bearish run from the all-time high. That was over 86% decrease in value. Since 2023 opened, Shopify’s share price has been rallying. This rally has taken price up to a 9-month high. Currently, price is at $47.33. This rally might be for a short period of time as the bears might push price lower below $23 in the coming months. The weekly chart shows price is oversold but the monthly chart shows price has been overbought. The bullish momentum might be counteracted with an aggressive bearish turn.

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