NYSE Archives - Page 4 of 10

May 19, 2022May 27, 2022

Tesla Share Price Continues To Fall

Since April 2020, the charts on Tesla have been bullish. This upward trend occurred in spite of the pandemic that crashed many stocks. The price at the beginning of the bull run in April 2020 was $100 per share after the stock split. (Please note that all prices are quoted since the stock split in August 2020). This continued until the end of the year despite little corrections in between. The $TSLA price soared on this bullish energy to an all-time high of $1,245 in November 2021.

There has been a huge correction since the all-time high in November 2021 as price has been falling. This bearish run saw a little bullish movement which occurred in March 2022 with the price experiencing a temporary rally. The bulls, however, were counteracted by the bears and the price continued its downward trend. In Q4 2021, our analysts concluded that the share price of Tesla could go below $1000 after reaching a new high at $1092 in October 2021.

Tesla’s price is currently at $709.81 per share. The worst closing price on the monthly chart since May 2021 was $625. This bearish run might push the price down towards $600 per share. RSI has indicated that the price has been overbought on both the weekly and monthly charts since November 2021.

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April 22, 2022April 22, 2022

Netflix To Rally Despite Sudden Price Dip

Netflix reached its all-time high at $701 in November 2021. Since then, the price has plummeted dramatically over the last 5-6 months. This huge slump has taken the price to $218, making it the worst fall ever. This fall is about a 70% loss from the all-time high of $701. As a result of the price fall, Netflix investors are yet to make a profit this year.

On the daily chart, a gap down occurred on January 21, 2022, from $507 to $399 and the price is yet to retrace. In the process of the price falling during this gap down, it hit a target we forecasted in an article we published in August 2021. Another gap down occurred on the daily chart on April 20, 2022, from $333 to $246. As of April 21, 2022, the price closed at $218 as a consequence of this last gap down, thereby making $218 the most recent support. Price last hit this point in January 2018.

In the last few days, $NFLX reported a loss of over 200,000 subscribers in Q1 2022. There are speculations that Netflix will lose over 2million customers in Q2 2022. Despite speculations, we foresee a price rally and we expect both gap-downs to be filled. This price rally should take the price to $387.

April 11, 2022April 11, 2022

Procter & Gamble To maintain Bullish Trend

The consumer goods giant has been listed on the NYSE for over 40 years and has accrued huge gains over the decades. Looking at the monthly charts since the IPO, there have been several higher lows and higher highs which is a fundamental characteristic of a bull market. Analyzing the monthly chart, there have never been indications on the RSI that the price has been oversold.

Generically speaking, fast-moving consumer goods are low-cost and often affordable which typically makes FMCG companies record-high revenues. Also, consumer goods are products that the population “consumes” and uses up very fast hence the name “fast-moving”. This makes consumer goods sell very quickly and inevitably increases the revenue made by the FMCG companies. Since 1978, the world’s population has increased by over 3 billion people. This data corroborates the success of FMCG firms particularly a firm like P&G which has been in the industry for decades and is considered a global leader in the FMCG industry.

Like other stocks, $PG experienced a fall in 2020 as the price moved from the pre-Covid price of $128 to $94 during the lockdown. Post-Covid price was able to rise to a new all-time high in December 2021 at $164. But then, it rose again to another new all-time high at $165 in January 2022. After this all-time high in January 2022, the price fell to $142 in March 2022 which currently serves as the year’s support.

Price has been able to bounce from the support to the current price at $160. This rally is expected to continue and the price could break out of the current resistance level at $165 which will invariably lead to a new all-time high.

April 7, 2022April 7, 2022

Investors To See Share Price Increase As Delta Airlines Makes New Policy

Since Delta Airlines hit its all-time high in July 2019 at $63, the bears have been significantly active as price plummeted to $17 in May 2020. The global lockdown played a huge role in this nosedive as it did for other airlines like Virgin Atlantic and Southwest Airlines. Following the global roll-out of vaccines and the subsequent ease of the lockdown in the last quarter of 2020, the $DAL share price got a reasonable boost that pushed the price above $50.

Recently, Delta Airlines announced a New Policy Shift that was targeted at easing travel fares for flights with high price tags. This loyalty program was run all through 2021 and still continued this year but it was meant to be temporary. However, the airline has now announced that the benefits from this loyalty scheme will become permanent. According to the announcement, Delta Airlines will be the first airline in the industry to announce this type of benefit.

This year, the resistance for $DAL has been maintained at $45.20 while the support level is at $29.84. This new policy is expected to influence the movement of the share price to the upside. Although there are several Dojis in the upper region of the Bollinger Bands, the bulls could steal the trend and as a result, the price could rally. This rally might push the price above $50 which is over a 35% increase from the current price of $37.

April 6, 2022April 6, 2022

Nike Investors Look Forward To A More Profitable Q2 2022

Nike stock, for the most part of its lifespan on the New York Stock Exchange, has been an Investor’s Paradise. It has been able to achieve over 8X since it went public in 1980. The apparel & footwear giant hit its all-time high in November 2021 at $178. Between November 2021 and March 2022, Nike took a dramatic fall downwards to $116, a $62 loss, leading to a new support level at that same $116 price mark.

There are indications of the price being oversold on the RSI weekly chart. Analyzing the candlestick formations, the candlestick on the week of March 14 forms a bullish engulfing pattern which consequently wipes out the bearish momentum of the previous candlestick on the week of March 7 (see yellow circle). This means that a bullish run could be underway in a few weeks.

This rally – if it occurs – could fill up the gap-down that occurred earlier in the year between the weeks of January 3 and January 10 respectively. Price could ride this bullish wave to hit $171 although the price is currently in the lower region of the Bollinger Bands and is still gathering momentum.

April 5, 2022April 5, 2022

Facebook Share Price Sets To Appreciate Beyond $300 Psychological Level

Facebook opened the year 2022 with a share price of $337, after it ranged for the most part of Q4 2021. Through the last quarter of 2021, the price ranged between $299 at the lower end and $353 at the upper end. The first breakout to the downside occurred on January 24, 2022. This breakout only lasted for a few days and the price found its way back into the range. On February 2, 2022, the price closed at $323 which was still in the range.

However, on the next trading day (February 3, 2022), a gap-down occurred which made the share price open at $244. At this point, the price was outside of the range and a bearish movement had kicked in as a result of the gap-down. The price kept falling till it hit a new support level at $186. This fall wiped out the profit that was made between June 2020 till September 2021 (the month when the price reached an all-time high at $384). The last time the tech giant’s share price got this low was in April 2020.

On March 16, 2022, the price bounced off the support line. RSI indicates oversold positions on the weekly timeframe. Could this be the bull run investors in $FB have been waiting months for? If this bull run continues, the share price could go beyond a psychological level of $300 and hit $368.

March 30, 2022March 30, 2022

Airbnb Maintains $140 Support Level

On December 10, 2020, Airbnb went public with an IPO price of $146 per share. For the first two months after the IPO, the bulls were in action, rallying the price to an all-time high of $219 per share in February 2021. Following this all-time high was a price slump, with the price closing in May 2021 at $140, a price below the IPO. For the next three months after the price closed below the IPO price, the price ranged between $130 and $155.

In September 2021, the price broke out to the upside which initiated a new price rally that allowed the price soar to $212. Despite the gains accrued in the first quarter of the year 2021, the price closed for the year 2021 at $166. January and February 2022 must have made investors even more worried as the two months closed on a bearish note.

March, however, has been comparatively more bullish than the first two months of the year 2022. AirBnB’s share price is currently at $175. From a technical analysis standpoint, if the weekly candlestick closes in the upper region of the Bollinger Bands, we might see a bullish run that will shoot the price above $192 per share.

March 28, 2022March 29, 2022

Apple To Hit A New All-Time High

Apple hit a new all-time high of $182.93 on the 4th of January, 2022. Long-term Apple investors were able to benefit substantially from the new all-time high. The rally to the all-time high could not be sustained for long as the price of $AAPL slumped to a support level at $150.80. This could have been a result of the ongoing war between Russia and Ukraine; or the increase in inflation rate in the US. Over the last decade, $AAPL share price has been on a bullish run with few price corrections. Late into January and the whole of February 2022, there was a correction in Apple’s share price but this dip did not terminate the bullish streak.

Since mid-March 2022, the $AAPL bulls began to push price higher after an inverted hammer was formed on the 14th of March, 2022. The price of $AAPL closed at $149.66 on the day the inverted hammer was formed. The second and third week of March 2022 have shown that the bulls are about to push the price to a new all-time high in the next quarter. On the week of the 26th of March, $AAPL closed at $174.72, which was over a $25 increase in the price of Apple shares. This recent bullish trend is giving investors confidence in Apple as they hope that the price continues its rally.

March 11, 2022March 11, 2022

ExxonMobil Reaches New High Since 2016

Any investor who bought Exxon Mobil shares in November 2020, which at the time was $31.07, would have recorded a continuous gain because the $XOM share price has been bullish since the 2020 global lockdown was eased. This bullish run that began towards the end of 2020 was activated by the double bottom in March 2020 and November 2020.

The share price of ExxonMobil didn’t make any significant movement in the year 2021 as prices range for most of the year between $52.14 and $66.09. Exxon Mobil’s share price opened for the month of March 2022 at $78. But the share price shot up to $91 on the 8th of March 2022. This spike is a result of crude oil prices reaching a new high of $130 per barrel.

After the price of Exxon Mobil reached $91, which is the highest since 2016, a gap down occurred and the gap down is yet to be filled. Just yesterday (March 10, 2022), crude oil price dropped 12% as the price fell from $123 per barrel to $108 per barrel. This recent spike in Exxon Mobil’s share price might continue if the crude oil price finds its bullish momentum and continues its rally. RSI has indicated overbought positions at two different times between January and March. In the coming months, a dip to $60 might occur.

March 9, 2022March 11, 2022

Netflix Share Price Continue To Nosedive

Netflix had its IPO in May 2002 at $1.15 per share. In the first few months of going public, the share price went as low as $0.35. The share price ranged for about seven years with a resistance level of $5.80. The price broke the resistance line in 2009 to reach a new high of $43. From a fundamental analysis standpoint, this breakout was partly due to the positive comments coming from their business model change from DVD to streaming.

In the latter part of 2011 after the price reached $43, the share price saw a dramatic slump to $8. It dipped even further in 2012 to $7. However, the candlesticks in the last three months of the year 2012 all closed bullish which for the investors, was a silver lining in the dark clouds. As the year 2013 began, this bullish momentum exploded and the price rallied over the years to an all-time high of $700 in November 2021. This bullish trend was a marathon with few corrections that ran for nearly a decade (from 2012 to 2021). Every Netflix investor smiled to the bank during this period.

However, since the month of the all-time high in 2021, all candlesticks on the monthly chart have closed bearish. As of March 8, 2022, Netflix had lost more than 50% of its all-time high value. In August 2021, we forecasted a fall in the value of $NFLX to $409. Price fell beyond this expected price level. On the weekly chart, RSI has indicated that the price has been oversold since January 2022. This might be an indication that the price could rally in the coming months from its current value of $341 above $615.