The first and only time we wrote about LKQ Corporation was in late-September, 2020. The stock had just doubled from its coronavirus plunge and was hovering around $27. Despite the recent strength, however, we thought the shares still present a good investment. In a time of crisis one cannot rely on charts alone, so the…
SEI Investments is Up 80%, Can Keep Climbing
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%…
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…
Bitcoin Bears Needed a Catalyst. Tesla Obliged
Tesla CEO Elon Musk announced the company would stop accepting Bitcoin as payment due to environmental concerns. The EV-maker’s Bitcoin stunt lasted for just three months, apparently the time it took for its CEO to realize how inefficient and energy-consuming BTC mining is, something we wrote about in March. The price of Bitcoin, of course,…
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…
S&P 500: Turning Bullish While the World Fell Apart
We find it hard to describe the past twelve months. What a year it’s been. A little over a year ago, the world was in utter panic. No-one really knew what is going on nor what was going to happen next. The prevalent emotion across the globe was fear. In the financial markets that fear…
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…
Ahead of EURUSD ‘s Disappointing Start to 2021
Overall, 2020 was a good year for EURUSD bulls. Despite the March crash during the coronavirus-related volatility, the pair ended the year up almost 9%. With more stimulus already in the pipeline at the start of 2021, it made sense to expect further devaluation of the dollar against the Euro. Alas, common sense doesn’t always…
Ahead of the 14% Crude Oil Dive with Elliott Wave
The crude oil market is capable of going from a state of oversupply to one of not enough supply in relatively short time. OPEC and Russia’s decisions and the fact that in a normal year the world consumes over 100 million barrels of oil daily cause the pendulum to swing from glut to deficit quite…
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…
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…
USDJPY Gains 450 Pips and Counting in Two Months
2020 wasn’t a good year for USDJPY bulls. Starting from 108.63 in January, the pair closed at 103.32 on December 31st, down 4.9% in twelve months. But what the dollar lost against the yen in the entire 2020 it is now close to recouping in less than three months. USDJPY is approaching 108.50 as of…
