STOCKS Archives - Page 11 of 13

May 21, 2021May 21, 2021

JP MORGAN CHASE MIGHT REACH A NEW ALL TIME HIGH

The lowest price of JPM in the last one decade was at $27.71. In contrast, the current all-time high of JP Morgan chase was reached on the 18th of May 2021 at $165.43. JPM has done about 6X in the last one decade and still looks promising.

Recall, there was a sharp drop in price from $140.48 to $76.52 in 2020. After the correction, a strong support was formed around the price level at $76.52 in March 2020. Since then, monthly candlestick has continued to indicate the full strength of the bulls. In This year alone, $JPM has done over 26.3%.

A gap down occurred in the price of $JPM on the same day of the all-time high. The gap down might be closed with a bullish movement. RSI in the last two months has shown that price has been overbought.

Could this be an indication for a reversal in the price of $JPM? There has been a bullish squeeze since the gap down and a new resistance formed at $164.65. A continuous bullish movement might push price above the resistance level. A breakout of the resistance level might push price to a new all-time high above $165.43.

May 14, 2021May 14, 2021

Dow Jones Might Plunge Further

After a major dip to $18,900 occurred in the price of Dow Jones in March 2020. Price retraced to the resistance level at $29,500 in the same month. $DJI broke the resistance level at $29,500 in November 2020. Since this breakout occurred, $DJI has consistently reached a new all-time high every month. The recent all time high occurred this week at $35,100. $DJI’s price at the beginning of this year was at $30,200. As at today, price of $DJI is at $34,000, which is about 11% gain in 2021.

After the all-time high at $35,100 was reached this week, two bearish candlesticks were formed in the next days. These two candlesticks were as a result of the inflation data that was released on Wednesday. the $DJI plunged 680 points. Investors might have been fearful, hence the reason for the selling. Both S&P 500 and NASDAQ also took a nosedive. Could this be sign of the beginning of a bearish trend?

When a major dip occurred in March 2020, RSI showed price has been overbought. RSI is currently showing that p rice has been overbought. This could lead to a major dip in price. If this dip occurs, it might make price reach the support level at $26,550. If In the next few weeks, price might just be consolidating around $34,000. If the inflation situation worsens, price might plunge further.

June 30, 2019January 22, 2020

Amazon Might Reach A New All Time High

Amazon share price fell badly towards the end of last year from 1965.54 to 1676.34. This fall might be as a result of the release of third-quarter earnings. Despite concerns about its forward guidance, price of $AMZN is beginning to rise which might make price reach the previous all time high of 2050.30. Throughout the month of May, the $AMZN price was in the lower region of the Bollinger bands. A breakout upwards occurred mid June and price has since then resumed to the upper region of the Bollinger bands. The trendlines have been broken after the dip.

As price rallies, Ichimoku has been able to show us a bullish future and a breakout upwards of the cloud has occurred. This indicates a significant bullish takeover. In April, RSI was able to show an overbought region before the dip. Now the oversold region has been shown on the RSI daily chart which signalled a rally. The efforts of the bulls might make price reach a new high in 2019

June 5, 2019January 22, 2020

Microsoft Share Price Reaches New Resistance Level

Microsoft share price was able to attain an all time high in April 2019. The rise made $MSFT price reach a new resistance level at 130.24. The previous all time high was in October 2018 at a resistance level of 115.63. The price of $MFST has refused to cross over to the lower region of the Bollinger bands for over a decade. With the recent highs reached, price might cross to the lower region of the bands depending on the activities of the sellers.

The trendlines have been broken this week. This might be a likely change of trend where the bulls might reduce activities for the bears to take over. The future of Ichimoku has refused to show a downtrend despite a break down from the trendlines occurring now. $MSFT investors over the years have reaped a bountiful harvest in their investments. At several instances, the RSI has shown price of $MSFT to be overbought. The downward breakout might make price of $MSFT to reach 101.58 as the current market price stands at 124.76.

June 5, 2019January 22, 2020

S&P 500 Might Continue The Dip

Some of the American stocks that had a strong bullish takeover are beginning to reverse in direction. This reversal might affect the $SPX. The $SPX price reached 2945 being our last analysis on $SPX in March shows it will reach 2946(https://faithmightfx.com/2019/03/13/sp-500-approaching-resistance/). That analysis was almost accurate. 2945 being the new resistance level of $SPX became the recent all time high price.

A breakdown has occurred from the trendlines which shows a reversal has started. Price of $SPX is currently at 2765.5. The candlesticks have crossed to the lower region of the Bollinger band indicating the strength of the bears in the market. Ichimoku is yet to show a reversal of the uptrend. This time when price reached an all time high, RSI did not show us overbought positions. Also, the penultimate time $SPX reached an all time high in 2018, RSI never showed us overbought positions before a reversal. Though, this week, $SPX has shown the bulls might be trying to takeover. This might be a deceptive bullish move. Price might reach 2547 depending on the activities of the bears.

May 9, 2019January 22, 2020

Verizon Now On A Downtrend

Each time price of Verizon attempts to reach the resistance level of 61.10, price of $VZ retraces. This happened twice in the past 8 months, majorly in November and March. When the price of $VZ closed the 2018 trading year, price showed a trace of reversal. The price of $VZ closed at 56.28 on the 31st of December 2018, after a bounce occurred from the support level. As price remains in the cloud of the Ichimoku, a breakout downward from the cloud could lead to a continuous downtrend.

$VZ has already shown an overbought position on the RSI chart. The current support level stands at 53.07. The price of $VZ may fall further after price has already crossed to the lower region of the Bollinger band. Ichimoku already shows a future of a downtrend which might increase in the next few weeks. Price is yet to reach the oversold position on the RSI chart. Since the trendlines have been broken to the downside, price may continue to go downwards to reach 51.08 from its current 56.91.

May 3, 2019January 22, 2020

Walmart Has Lost Its Uptrend Grip

A resistance level of 103.95 was reached on the 25th of April 2019. For the most part of 2019, the Walmart bulls have been in charge of the market . A gap down occurred on the 26th of April, after which a temporary correction occurred. There was a very low volatility in the price movement of $WMT from mid February to the end of March. The share price of Walmart is beginning to drop after a bounce downward occurred at the resistance level.

A breakout from the trendlines occurred to the downside which also complements other indications that the price of $WMT has begun a downtrend. RSI has been able to show an overbought position on the chart. The future of Ichimoku shows the $WMT bulls are still in charge of the market. Also, price maintains the upper part of the Bollinger band, which is yet to cross lower. The bears are gradually taking charge of the market.

May 3, 2019January 22, 2020

Google Recently Had A Huge Gap Down

Our last analysis on Google shows the share price was going to rise. . Price was able to go beyond the expected resistance level of 1123.23. The bullish movement from last year was able to reach 1288.30 on the 29th of April 2019. At the last trading day of April, a gap down occurred which confirmed the beginning of a downtrend. RSI at two different occasions between March and April had shown overbought positions.

Ichimoku is yet to show a reversal, but shows the $GOOG bulls are still in charge. The gap down which occurred made price of $GOOG on the Bollinger band to cross to the lower region of the chart which is presently in the Ichimoku cloud. The share price of $GOOG is currently at 1168.89. Now that price has crossed to the lower region of the Bollinger bands, this could make price to continue to fall more to 1106.41. $GOOG lost about 100points after the gap down. As we await price to continue the downward trend, it might still lose 150points more.

April 30, 2019January 22, 2020

Netflix Might Be Ready For A Dip in Price

The Netflix stock price in 2019 has been majorly characterized with a stable market price. This occurred as a result of an uptrend that began at the latter part of December 2018. Initially at the beginning of the year, when the price of $NFLX rose, it reached an overbought region on the RSI. Instead of the price of $NFLX to fall, price continued to go upward at a very slow pace. Since February, price has consistently been ranging on the daily chart between 343.81 and 382.87.

For the most part of 2019, the candlesticks have maintained the higher region of the Bollinger bands. Despite the trendlines being broken to the downside late last year, the price of $NFLX has ceased to fall. The future of Ichimoku does not show an actual direction of the market. Nevertheless, $NFLX might be losing its bull power temporarily. Price of $NFLX could fall below 351 in the coming days from its current 371.83.

April 24, 2019January 22, 2020

Exxon Mobil To Continue Its Trend

Undoubtedly, the year has been very good for the Exxon Mobil share price. Though in 2018, it was a rowdy chart with a majorly ranging market. The year has all been bullish for the $XOM from 71.25 to its current 82.90. The last time RSI showed either overbought or oversold region was in July 2017. The first resistance level has been reached at level 81.88. There might have been several looks of a reversal in price but as it appears, the bullish movement might continue.

We might expect price to reach 88.16 which is the second resistance level. Unlike last year, there is a lower number of ranging markets in the $XOM market with the bulls more active. The Ichimoku’s future has already shown a bullish signal which might be an indication for the bulls to continue trading. If price touches the second resistance level, by this time, the RSI might show an overbought position.