Ten months ago, in March, 2021, we wrote that The Trade Desk stock can “exceed $1000, but not by much.” Shares were hovering around $750 at the time and, in our opinion, were extremely overvalued. Nevertheless, our Elliott Wave analysis suggested more upside ahead, before the bulls gave up. On June 17th, the company executed…
SNAP ‘s Gains Disappear Just as Quickly as Messages
Snapchat is famous for deleting all messages sent over the platform immediately after they’ve been viewed by the recipient. And while this feature is appreciated by the company’s core demographic, investors hardly like it when their SNAP stock gains do the same. Unfortunately, that is exactly what has been happening since late-September. SNAP stock is…
Etsy Stock Rose and Fell as Elliott Wave Predicted
Sales at online marketplace giant Etsy are on track for a 33% gain in 2021 and are expected to add at least 20% more in 2022. The company is growing, profitable and financially stable, yet the stock is down 46% from its November 2021 record of $307.75 a share. Fortunately, Etsy ‘s crash is not…
Lululemon Stock – Ahead of the Disappointment
Even though the stock recouped most of yesterday’s losses, Lululemon still disappointed investors with its Q421 guidance. Despite causing a milder illness, the Omicron variant is nevertheless taking its toll on the company’s sales. However, shares have been dropping for quite some time now. The stock is down 28% from its $486 all-time high reached…
The Top Might Be In for OneWater Marine Stock
Contrary to common sense, the tough times brought by the pandemic caused a dramatic demand for luxury items. Everything from jewelry to mansions experienced a huge surge in popularity. Recreational boats were no exception. In this respect, few companies benefitted more from the post-pandemic boom than OneWater Marine Inc. The company is a fast-growing premium…
Hess Corp. to Enjoy the Looming Energy Deficit
The world has finally awakened to the looming climate change catastrophe and is suddenly rushing its way towards renewables. New oil and gas exploration projects are hardly being approved, while the world is still heavily-dependent on fossil fuels. This threatens to create a huge supply-demand imbalance, which can result (already results?) in much higher energy…
Crude Oil Recouped the Omicron Losses. Here’s Why
It’s been roughly a month since the new Omicron variant emerged and threatened to bring back curbs to slow its spread. The initial impact on the price of crude oil was a dramatic decline to $62.23 on December 2nd. Yesterday, however, and despite new anti-Covid measures across Europe, WTI reached $77.15. In other words, almost…
Okta Stock Likely to Halve Once It Exceeds $300
Founded in 2009, Okta Inc. is an identity management platform provider for businesses. Its products include API access management, single sign-on, multi factor authentication, user management and lifecycle management. It all sounds very impressive and the company’s $36B market cap makes it sound even more so. Until one finds out that Okta is still a…
SAP Stock to Use Dot-Com Bubble High as Support
SAP is the biggest non-US software company in the world by revenue and the largest one in Germany by market cap. At its current stock price of roughly €115 a share, its valuation is higher than $150 billion. That is not much higher than its Dot-Com bubble peak at €77.50 a share in 2000, highlighting…
Klépierre to Follow in Simon Property’s Footsteps?
Klépierre S.A. is Europe’s top mall operator with over 100 shopping centers in more than ten countries. Malls, the saying goes, were getting killed by the switch to e-commerce and the pandemic only exacerbated that trend. However, not all malls were created equal. Klépierre does not operate just any mall. It owns the most luxurious…
Freeport Bearish Pattern Sets Targets Below $30
Despite the March 2020 Covid selloff, Freeport-McMoRan is trading significantly higher since we shared our last bullish update on it in December, 2019. As the price of copper soared, FCX soared with it to as high as $46.10 in May, 2021. However, no trend lasts forever and Freeport ‘s rally was no exception. The stock…
L3Harris Elliott Wave Pattern Points to a 40% Drop
L3Harris Technologies, formed by the 2019 merger between L3 Technologies and Harris Corporation, is the sixth largest US defense contractor. The company is decently profitable and financially sound, which helps explain why the stock is hovering close to its all-time high. And indeed, L3Harris has been very generous to investors throughout the years. The stock…
OMXC 25 Index Treading on Dangerous Ground
OMXC 25, more commonly known as Denmark’s Copenhagen 25 index, is trading at all-time highs. Slightly above the 2000 mark now, the Danish benchmark is up nearly 20% YTD and 109% from its March 2020 bottom. It turns out that quality companies like Pandora, GN Store Nord and Vestas Wind Systems can deliver some pretty…
FICO Stock, A Barometer for the Economy, Looks Weak
In most countries, financial institutions use some kind of credit scores to better evaluate a borrower’s creditworthiness. In the United States, the FICO score, maintained by the Fair Isaac Corporation, is used in over 90% of loan originations decisions. So in essence, Fair Isaac holds a 90% market share in a service most lenders cannot…
USDCAD and the Anatomy of a Deceiving Correction
In late-September, 2021, USDCAD had already spent over two months in a narrowing sideways range. Despite occasionally breaching the 1.2900 mark during that time, the pair was unable to close a daily session above it. Neither was it able to significantly breach 1.2500. When it comes to narrowing range-bound movements, there is one Elliott Wave…
