NYSE Archives - Page 2 of 10

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.

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.

June 13, 2023June 13, 2023

GameStop Rally Might be Countered by the Bears

GameStop ($GME) is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Texas, USA. GameStop is the largest video game retailer in the world. GameStop was founded 39 years ago. As of January 2023, GameStop had 4,413 locations. The revenue as of 2022 was at $5.93billion. In 2022, $GME had a full-time employee strength of 11,000; and 14,000-27,000 part time employees as of January 2023.

On the 8th of June, a gap-down occurred but as of the 12th of June 2023, a rally occurred to close up the gap-down. On that day, $GME opened at $22.85 and closed at $24.30 i.e. $GME gained 7.14% in a single trading day. However, our analysis forecasts that $GME bears will take control of the price movement regardless of the recent rally. The price of GameStop might fall from the current price of $25.80 to $17.62 in the coming weeks.

April 26, 2023April 26, 2023

Tesla’s Share Price Dips to Previous Month’s Low

From the all-time of Tesla in November 2021 at $418 per share, the $TSLA share price has been falling in value. All investments made at the beginning of 2022 ended in negative figures due to the one year plus bearish trend. Despite the bearish trend in the market, Tesla made a revenue of US$81.46billion in 2022.

Despite the bearish trend of 2022, price of $TSLA was beginning to rally in 2023. with the price bouncing from the 2022 support level of $101 to the 2023 high of $218. In recent weeks the bears have pushed price to $155 and this could continue for some time.

On Thursday the 20th of April, 2023, the tesla share price opened with a gap down at $166. The lowest in the previous month was $164. The price on that Thursday closed at $163.04, a little bit lower that the March 2023 lowest price. Since the gap down, the bulls have failed to make a turnaround in the price as the price keeps falling.

ON the 4hr chart, RSI showed that price had been overbought at two different times in March and currently shows that price has been oversold once in April. We might be falling to $113 in the coming weeks.

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.

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.

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.

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.