Berkshire Hathaway’s latest 13F filing revealed a new stake in Aon Plc. As of March 31st, Warren Buffett’s company holds 4.1 million shares of the Dublin, Ireland-based professional services firm. The position is relatively small for Berkshire’s standards, meaning it was most likely initiated by one of his two investment managers. Still, when Berkshire buys…
Visa ‘s Diagonal Pattern Can Mean a Top is Forming
Visa has been a wonder to behold almost since it went public at $17.25 in March 2008. True, the following twelve months surely must have scared many shareholders, but the ones who stayed have been generously rewarded. Since the bottom in 2009, Visa stock is up over 2000% and that is without counting the dividends.…
NYSE Operator Can Fall 50% as Correction Begins
Exchanges don’t exist in a vacuum. There are companies whose entire operation is dedicated to running them. We recently wrote about CBOE Global Markets – the company operating, among others, the Chicago options exchange. Today, we would like to examine another major company in the field – Intercontinental Exchange Inc. – the company owning the…
Lululemon Stock Can Add ~30%. Then It Can Halve
Lululemon has gone a long way since its July 2007 IPO. Investors brave or lucky enough to have bought after its 93% collapse during the 2008-2009 Financial crisis and stayed the course have made a real fortune. in September 2020, LULU stock was just pennies away from the $400 mark. Although it dropped by a…
Disney Stock Bulls Play With Fire Above $200 a Share
2020 was shaping up to be a disaster for Disney shareholders. Not only did the COVID-19 selloff cause a 48% plunge in the stock price, but the indefinite closing of cinemas worldwide crippled Mickey Mouse’s business operations. The company’s Disney+ streaming offering came to the rescue, but still could not prevent the company from posting…
Snap Stock Bouncing Off Fibonacci Support
It took over three years for Snap Inc., the company behind the popular app Snapchat, to reach its IPO valuation. After reaching almost $29.44 on its second day of trading in March, 2017, SNAP stock fell as low as $4.82 in December 2018. On the other hand, investors bold enough to buy near those lows…
Rapid7 Doubles As Elliott Wave Setup Bears Fruit
We first wrote about Rapid7 in late-August 2019. The stock was hovering above $55.50, but the structure of the post-2016 uptrend suggested a notable decline was in progress. In March 2020, it fell to $31.34, down 52.5% from its all-time high. A month later, with RPD still below $47, we shared our bullish stance on…
PNC Financial – Elliott Wave Analysis Works Yet Again
Earnings at PNC Financial suffered last year along with the entire financial sector. Net income before extraordinary items came in at $2.95B in 2020, down from $5.35 in 2019 for a 45% reduction. In our opinion, amid the biggest crisis since the Great Depression, the fact that PNC and its peers even managed to stay…
Betting on 3i Stock a Year Ago Pays Off in Spades
The first time we wrote about 3i Group was in late-October 2019. The stock was hovering around 1100 pence a share following a 1000% gain in the past ten years. Needless to say, few thought a major decline was even possible. Fortunately, Elliott Wave analysis helped us see the bulls cannot be trusted. Five months…
Ahead of Hibbett ‘s Unlikely Surge to New Records
Hibbett Sports Inc. is an American sporting goods retailer with more than 1000 stores in over 30 states. We first wrote about the company in the summer of 2017. The stock was trading below $16 a share back then, following a decline from as high as $68.31 in late-2013. At first glance Hibbett looked like…
Walgreens Stock Confirms Downtrend is Over
Walgreens stock had been declining for over five years between 2015 and 2020. One of the largest pharmaceutical retailers in the world reached an all-time high of $97.30 in August 2015. In late-October 2020, it fell to $33.36, losing almost 66% from the record. It must have been difficult for Walgreens investors to keep a…
Interpublic on the Verge of Doubling Amid Pandemic
We first wrote about Interpublic in March 2018. The stock had just reached $26 a share, but we thought an Elliott Wave correction can “easily erase about 50% of Interpublic ’s market capitalization.” Two years later, during the coronavirus panic in March 2020, IPG fell to $11.63, down 55% from the 2018 high. Fortunately, the…
Expedia Acts As If Travel Restrictions Do Not Exist
We last wrote about Expedia in mid-2020. Countries around the globe had mostly closed their borders, the COVID-19 vaccine was still just a hopeful prospect and the summer travel season was practically ruined. No wonder the stock of Expedia, one of the largest travel booking companies, was down 46% from its 2017 high. Yet, during…
The Trade Desk to Exceed $1000, but Not by Much
The first time we wrote about The Trade Desk was in May 2019. The stock was trading above $220 a share and we thought a notable correction can soon be expected. That call was rather premature though, since the bulls added another $100 before giving up. However, by March 2020, TTD was down to $136,…
Steel Dynamics – Pocketing 100% Gain in Ten Months
We first wrote about Steel Dynamics on January 16th, 2020. The stock was trading near $33 a share, down from its May 2018 record high of $52.10. However, the Elliott Wave structure of this decline made us think more weakness can be expected. Two months later, in mid-March 2020, the stock dipped below $15 a…
