NASDAQ Archives - FaithMightFX

January 24, 2024January 24, 2024

Against All Odds, SPX Hits A New High

S&P 500 was founded 66 years ago. It is traded in 3 exchanges including NYSE and NASDAQ. The S&P 500 is used to track the best 500 traded companies in the United States. The market capitalization of S&P 500 as of December 29, 2023, was $42 trillion. SPX made a historical move from the lockdown low of $2196.55 to the previous high at $4864.61. That was an over 120% increase in a 2-year bullish run.

This month makes it two years the S&P 500 price hit a new high. A breakout to the upside occurred on the 19th of January which has made SPX’s price hit a new high at $4865, the rally has continued as SPX continues to hit new highs as price is currently at $4,891.

The bullish momentum for SPX might be cut short soon as the bears might push price lower to $4133. On the daily chart, RSI has shown the price has been overbought multiple times since November 2023. As a result of the new high in January 2023, the RSI has hit the overbought position.

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

December 4, 2023December 4, 2023

Coinbase Reaches 2023 High After Massive Fall in Price

Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform. The company was founded in 2012. Coinbase had its IPO in April 2021 at $327 per share. The major gains that $COIN IPO investors got was on the rally of Day 1. The all-time high of $COIN was at $420 which was also on that first trading day.

Each time the price of Coinbase tried to rally, the bears pushed price lower. The price was pushed down to $32 in December 2022, which currently stands as the all-time low. The fall from the IPO price in 2021 to the all-time low in 2022 showed that Coinbase lost 90% of its value.

As of November 2023, Coinbase has a market cap of $29.91 Billion. The opening price of $COIN in 2023 was at $36.73. The rally this year has made the price of Coinbase reach $131. The $131 price level is currently the 2023 high. We might see price fall below $100 in the coming weeks despite the rally.

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 companies in your portfolio? Schedule a meeting with us here.

May 4, 2023May 4, 2023

Nasdaq Hits 8months High

NASDAQ is an acronym for the National Association of Securities Dealers Automated Quotations. It is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. Nasdaq was founded in February 1971, and has a listing of 3,554 companies. The market capitalization of Nasdaq is $18trillion as of January 2023.

The Nasdaq in the last two decades has mostly being bullish. The all-time high of NASDAQ was at $16,745 in November 2021. After the all-time high was reached, price dipped to $10479 in October 2022. Price consolidated for a few months until a rally began in February 2023. As of the time of this writing, the current price of NASDAQ is at $13013, an 8-month high. As this rally continues, we might see the price of NASDAQ hit $14,000 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 stock indices in your portfolio? Schedule a meeting with us here

April 25, 2023April 25, 2023

Bed Bath & Beyond Files For Bankruptcy As Price Falls Below IPO price

Bed Bath & Beyond Inc. is an American big box store specializing in home textiles, housewares, decorative home accessories and specialty items. The chain operates stores in the United States, Canada, Mexico, and Puerto Rico.

Bed Bath & Beyond was founded in 1971. It was counted among the Fortune 500 and the Forbes Global 2000. As of February 2022, $BBBY boasted of 32,000 employees with a total asset of $5.13billion. It is publicly traded on Nasdaq and Russell 2000 component. The last time $BBBY share price dipped was during the lockdown as price reached $3.75. Post-lockdown, there was a bounce to $54 in January 2021. The rally was countered with a bearish turn as price is currently trading at the IPO price of 1992 of $1.14. The current price of $BBBY is $0.1888 making it the worst price of $BBBY.

On April 23, 2023, the company filed for Chapter 11 bankruptcy and announced that it would be winding down its operations after several failed attempts to turnaround the company. ON the weekly chart, RSI showed that price had been oversold once. The price of $BBBY could trade around $1 for some months even if price would appreciate later, that is if the government comes to support the ailing company.

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

January 26, 2023January 26, 2023

Nvidia Rallies To Previous Resistance Level

NVIDIA is an American multinational technology company based in California, USA. The company designs graphics processing units. It was founded on the 5th of April, 1993 by Jensen Huang, Curtis Priem, Chris Malachowsky. As of 2022, NVIDIA made a yearly revenue of $26.91 billion. As of that same year, NVIDIA had a staff strength of 22,473.

The lowest value of NVIDIA since August 2020 stands at 108.70, which also stands as the support level of 2022. The year 2022 was not a good year for NVIDIA investors as price opened at $298.12 and closed at $146.03 – a 39% loss. There seems to be relief as price began to rally after a bounce from support in the last quarter of 2022. 2023 opened at $147 and price has rallied to $191.93, a 30.5% increase in about a month. The last time price of $NVDA was at $191.93 was in August 2022, which was the previous resistance level.

We might be seeing the price of $NVDA reaching $200 per share 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

December 8, 2022December 8, 2022

Prometheus Biosciences: The Stock That Rose 165% In 24 hours

Prometheus Biosciences is an innovative biotech firm aiming to develop novel therapeutic and companion diagnostic product candidates for the treatment of immune-mediated diseases.

Prometheus ($RXDX on NASDAQ) had its IPO on March 12, 2021, at $25 per share. $RXDX has a market cap of $2.01Billion and generates $3.13Million in revenue annually. On Wednesday, the 7th of December, the company released a result of treatment in the development for ulcerative colitis (UC) and Crohn’s disease (CD). The result from this study showed it was effective as a treatment and safe for use.

On the 6th of December, $RXDX closed at $35.32 per share. By the opening of the following trading day, there was a gap up as a result of the release of the aforementioned report. This gap up made price open at $105.20 which was over 200% appreciation of the stock as of the time price opened on the 7th of December.

That same day, price kept rallying to about $112 before it reversed. At the end of the trading day, price closed at $95.80. We might be seeing a price fall to $64 in the coming weeks. In September, RSI indicated price was overbought on the weekly time frame. Right now, RSI is also indicating on the weekly time frame that price is overbought due to this recent rally.

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

December 2, 2022December 2, 2022

Are Udemy Investors Caught In A Bear Trap?

Udemy is a massive American open online course provider. It was founded in 2010 and by April 2021, the platform had recorded more than 40million students, 155,000 courses and 70,000 instructors in over 65 languages. As of 2022, Udemy has over 52milion users. Between 2011 and 2020, Udemy made some series of fund raising. The last funding before the IPO in 2021 was for $50million at $3.2billion valuation led by Tencent Holdings.

On October 29, 2021, Udemy held their IPO with a price of $27 per share. Price of $UDMY rallied only for a few weeks from its IPO to reach an all-time high at $32.68 on the 19th of November 2021. The next trading day after the all-time high was reached, the bears took full control and price began to dip and closed below the IPO price even before the end of November 2021.

The opening price of this year was at $19.51. as price, it has also been a year of low volatility, though the first four months closed bearish. The price of $UDMY in 2022 has been between $19.84 in January, which is the highest price level in the year and $9.47 in July, which also stands as the all-time low. Udemy share price right now is at $14.24 and we might be seeing a price fall to $11.79 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

November 10, 2022November 10, 2022

Robinhood Share Price Falls, To Reach A New All-Time Low

Robinhood Markets, Inc. is an American financial services company, with her headquarters in California. It’s a FINRA-regulated broker-dealer, registered with the U.S. Securities and Exchange Commission. As of March 2022, Robinhood had 22.8million funded accounts and 15.9million monthly active users. In April 2022, Robinhood introduced a cryptocurrency wallet to more than 2 million users.

Most Robinhood investors would be in losses, except for those investors with new entries from June 2022. Robinhood had its IPO at $37.87 in July 29, 2021. The stock rallied for just few days, as price eventually reached an all-time high at $85.15 on the 4th of July, 2022. Since its IPO, only the first five trading days were in favor of the $HOOD bulls. Since November 17, 2021, Robinhood has been trading below the IPO price at $37.87.

2022 has been a bearish year for $HOOD investors. The current price of $HOOD shares is at $9.74. The all-time low for Robinhood is at $6.71, which was hit in June 2022. Recently, the crypto industry witnessed another crash. We might be seeing another drop in the price of $HOOD, which could eventually make the price reach a new all-time low below $6.71. We might be seeing price reach $6 or $5 per share.

November 1, 2022November 1, 2022

Airbnb Price Bounces From All-Time Low

AirBnB had its IPO in December 2020 at $145 per share. This IPO was done a few months after the ease of lockdown globally. Price rallied to $219, an all-time high, on February 11 2021. The rally was short-lived as price fell to $129.49 in May 2022, which was below the IPO price. There is a report that indicates that travel around the world is starting to slow because of high energy prices, and consumers are having a second thought before going on vacation. The housing market is currently in turmoil, which could spill over to the AirBnB market.

Since the beginning of the year, AirBnB has been down by 32.46%. As a result of the fall, price crossed the $100 psychological level for the first time as it hit $85 in July 2022. Price is consolidating on the weekly chart, as the price of $ABNB is currently at $110.30. A rally to $196 might occur 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 stocks in your portfolio? Schedule a meeting with us here