NYSE Archives - FaithMightFX

April 24, 2024April 24, 2024

Google Rebounds

The share price of Google over the years has been outstanding despite the bearish run in 2023. This year has been a year of recovery. The price at the beginning of 2024 was at $84.01. There was a dip in 2022 and that dip happened after the high of $159.50 in November 2021. All gains in 2021 was lost as result of the bearish run in 2022 and this bearish run found support at $84.01. The bullish takeover started at the beginning of 2023 and the run has continued to 2024.

The opening price of $GOOG in 2024 was $139.53. The bulls have been able to make price rally beyond the 2021 high at $159.50. The first breakout to the upside was in January 24. February recorded a few losses. In March, there was a record of gains as the second breakout to the upside was recorded this month. The breakout has made the price of $GOOG reach a new all-time high at $161.86 which hit on the 12th of April.

After the recent high was reached, the bears temporary took position as price dropped to $154.16. There is a rebound in price as the bulls have regained some of the losses of last week. The earning report of Google will be released on the 25th of April. This might not be favorable to the price of $GOOG as the price might fall to $155 from the current price of $159.92. On the monthly chart, RSI shows price has been overbought in 2021 but yet to be overbought in 2024 despite the new highs.

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 14, 2024February 14, 2024

Amazon Price Reaches 2024 High, Jeff Bezos Sells $2billion Worth of Shares

As of February 2024, Amazon has a market cap of $1.751 Trillion. This makes Amazon the world’s 6th most valuable company by market cap. The market capitalization, commonly called market cap, is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure how much a company is worth. This year, $AMZN crossed the borderline of $1.7 Trillion market cap for the first time.

The current price of $AMZN as of the time of this publication is at $168.64. Recently, Jeff Bezos sold roughly $2 billion worth of his Amazon stock according to financial filings. Despite this latest divestment, Bezos retains a significant stake in Amazon, holding approximately 964.2 million shares and representing 9.3% of the company’s outstanding shares. While stepping down as Amazon CEO in July 2021 and handing the reins to Andy Jassy, Bezos remained chairman. He has steadily transitioned his focus towards his space venture, Blue Origin, while gradually reducing his active role in Amazon’s management.

In the coming weeks, the price of $AMZN could fall to $120 as a result of Jeff’s huge sales of the shares.

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 in your portfolio? Schedule a meeting with us here

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

November 21, 2023November 21, 2023

Tesla’s Share Price Might Fall Below $200

The American company that manufactures and sells electric cars, as well as power storage and photovoltaic systems, Tesla Inc., is currently ranked the 9th biggest company in the world by market capitalization. The current market capitalization as of yesterday, November 20 2023, was $748.95billion. In the last one year, the value of Tesla has risen by 40.35% with the current share price at $235.60. It has been a bullish year for the $TSLA stock. From the year of IPO when the price of Tesla was $1.09 to the current price at $235.60, it has been a profitable deal for investors.

The adoption rate of electric cars in the world has increased over the past few years as it is receiving widespread acceptance across many nations. This month of November, the value of $TSLA has increased by 17.31%, as price has rallied from the month’s low of $197.85. Price of $TSLA is currently below the trendline as we might see price fall in the coming days. On the 4hr timeframe, RSI has indicated that the price of Tesla might fall soon. The next fall might see the price of $TSLA fall below the psychological level of $200.

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.

November 7, 2023November 7, 2023

Google Currently Trading Above $130

As of November 7, 2023, Alphabet (Google) has a market cap of $1.637 Trillion. This makes Alphabet (Google) the world’s 4th most valuable company by market capitalization. In the space of one year, the share price of Google ($GOOG) has appreciated by 42.97%. In the last 24hours, the market cap has increased in value by 0.83%. The revenue growth of $GOOG in the last 20years has been exponential. As of 2004, the revenue of $GOOG was $3.194Billion. In 2014, the revenue had increased to $66Billion yearly. Currently in 2023, the revenue of $GOOG stands at $297.13Billion.

As regards share price, this year’s high for $GOOG is at $142.17 which was on the 12th of October. On the 24th of October, there was a gap down from $139 to $129. November opened with a bounce from the October support level of $121, and the gap down was partly filled as price is currently at $131.45. We might see price rally in the next few days to $139. The rally might be temporary as we might see a fall in price to $85 in 2024.

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.

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.

August 15, 2023August 15, 2023

Vertiv Gains 29% Amidst The Current Market Situation

Vertiv is an American provider of equipment and services for data centers. Vertiv Holdings was formerly known as Emerson Network Power in 2016. As of now, Vertiv has a total staff strength of 27,000 globally. Vertiv Holdings had its IPO in July 2018 at $9.68. It is listed on NYSE as $VRT. On the monthly chart since its IPO, price ranged until December 2019 when a new high was reached at $12.43. Just like most stocks, $VRT dipped during the lockdown to an all-time low of $4.76.

As price bounced from the all-time low, a major rally occurred, which took price to $28.88 in September 2021. Despite the price fall of Vertiv in 2022, the company had a revenue of $5.6 billion. The value of Vertiv Holdings dropped as a result of material and freight inflation. It was $40 million worse than expected, and “foreign exchange, divestitures, and other” was $45 million worse than expected in 2022.

Since the beginning of this year, Vertiv Holdings has brought relief to investors as price rallied to break the previous high at $28.88. On the 2nd of August 2023, price of $VRT jumped to $33.01 from $26.51, which was the close of the previous day. The gap-up is yet to be corrected as price is currently consolidating despite general market trends in the last one month being bearish.

The all-time high stands at $36.73. This was reached on August 4, 2023. We foresee a breakout to the upside in the coming weeks leading to a new high which will replace the current all-time high.

July 20, 2023July 20, 2023

Coinbase Trades Above $100

Coinbase Global Inc. is an American publicly traded company that operates a cryptocurrency exchange platform. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam.

From the resistance level at $357.39 where it was on November 9, 2021, Coinbase stock fell to the all-time low at $32.53 on December 28, 2022. Since August 2022, $COIN has maintained a resistance level at $116. In the same August 2022, price fell below $100. For almost one year, price of $COIN has been trading below $100 up until the week of the 10th of July when price crossed the psychological level of $100 to the upside. The price is currently at $106.67 as of the time of this writing.

The bullish momentum might come to an end soon as the bears could push price to $40 in the coming weeks. RSI has shown us on the daily chart that price is overbought. This could be an indication of a possible price reversal.

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 in your portfolio? Schedule a meeting with us here.

June 22, 2023June 22, 2023

Carvana Co. Surges By Over 10%.

Carvana is an online used car retailer based in the USA. iT is the fastest growing onlin used car dealer in the UNited States. Carvana was named to the 2021 Fortune 500 lisy, one of the youngest companies to be added to the list. It can also be classified as an E-commerce company. As of 2022, Carvana has a total staff strength of 16,600. The revenue as of 2022 was $13.6 billion. In April 2017, the company went public and began trading on the NYSE under the symbol of $CVNA. As of June 2023, Carvana has a market cap of $4.49billion. It is the world 2663th most valuable company.

Since the all-time high of $CVNA was reached at $378 in August 2021, the price has fallen badly as price reached the all-time low at $3.06 in December 2022. Price opened in 2023 at $4.29 and the year has been largely bullish with price currently at $23.32. There was a 10% surge in value on June 16 which took price to the year’s high at $28.75. On the daily chart RSI shows price is overbought, despite that, we might see a rally to $40 in the coming weeks.