It was March 19th, 2020, and the world appeared to be coming to an end. Governments around the globe were rushing to impose lockdowns to curb the spread of COVID-19. The entire world economy was suddenly stopped in its tracks. U.S. stocks suffered their fastest fall into a bear market in history, down over 35%…
Canada Goose Elliott Wave Pattern Points North
Canada Goose stock reached its all-time high in November 2018 and has been trading below it ever since. The coronavirus selloff actually led it to a record low, erasing its entire gain as a public company. But March 2020 turned out to be a great time to buy. The share price is up 210% from…
Alteryx Stock Got Cut in Half by Elliott Wave Setup
We first wrote about Alteryx in the fall of 2020. The stock was surging after a better-than-expected Q3 revenue guidance and was quickly approaching $150 a share. With a market cap of roughly $10 billion back then, apparently it didn’t matter that this data analytics software provider was barely profitable. In the era of money…
Roku ‘s Bubble Can Keep Inflating in Fifth Wave
Last year’s coronavirus selloff dragged Roku to barely above $58 a share. At that low point, the stock was down 67% from its September 2019 high. Fortunately for its shareholders, however, Roku ‘s rebound was even more spectacular. The share price reached an all-time high of $486.72 by February 2021, up 740% in less than…
Plus500 Ready to Soar Again As Uptrend Resumes
Plus500 shareholders probably don’t like to remember the period between August 2018 and April 2019. ESMA’s new regulations hit the CFD trading industry hard and the company was no exception. Over those nine months, the stock fell 81% from 2076 to as low as 397 pence a share. But Plus500 survived and adapted to the…
Berkshire ‘s New Holding Trades in Late Fifth Wave
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…
