Steel Dynamics Completes Bearish Wave Setup

Steel Dynamics stock climbed 40% throughout the second half of 2019. The share price rose from $25 to almost $36, but that’s after a decline from $52.10 in May 2018. In other words, despite the recent recovery STLD is still down 36.7% in the past 19 months. Can the steel manufacturer stock’s revival continue or…

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Spirit AeroSystems Not an Elliott Wave Bargain Yet

In the ten years between November 2008 and January 2018, Spirit AeroSystems stock surged 1373%. The rally from $7.14 to $105.20 made anyone who happened to catch even a part of it quite happy. The following two years, on the other hand, not so much. Spirit AeroSystems is down by a third in the last…

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Shopify Investors Probably Believe in Unicorns, Too

Shopify is a cloud-based commerce platform founded in 2004 and headquartered in Canada. Its market cap is approaching $50 billion, even though the company is not yet profitable. We know from history that profits determine a business’ success in the long-term. In the short run, however, investors’ emotions is what makes a stock rise or…

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Gold ‘s Surge and US-Iran Have Little In Common

Gold climbed to a six-year high on rising tensions between the US and Iran following the assassination of Iranian General Qasem Soleimani. The safe-haven asset reached $1590 earlier today as #WorldWarThree started to emerge on Twitter. We hope WWIII remains just a hashtag. In the meantime, we are once again baffled by how the media…

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EssilorLuxottica To Lose a Third in Elliott Wave Drop

EssilorLuxottica came into existence in October 2018 after the French Essilor acquired the Italian Luxottica in a $24 billion deal. The merger resulted in the world’s largest eyewear company with a market cap of roughly 60 billion euro. Listed on the Euronext Paris stock exchange, EssilorLuxottica is part of the French CAC 40 and the…

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Linamar ‘s 2020 is Shaping up to be a Great Year

Founded in 1966, Linamar Corp. is the second-largest automobile parts manufacturer in Canada. The stock is listed in Toronto and had an exceptionally strong run between 2009 and 2015. In a little over six years, the share price rose from as low as C$2 to as high as C$89.42. That’s 88.4% compounded annually. Unfortunately for…

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GBPUSD To Resume Uptrend Once Correction Ends

The Brexit saga continues as Boris Johnson’s re-election puts Britain firmly on the path of leaving the EU on January 31st 2020. And while the results of the June 2016 referendum caused a crash to 1.1650 by October 2016, GBPUSD is trading near 1.3100 today. The chart below reveals the structure of the recent recovery…

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Time for BMW Stock Bulls to Hit the Brakes Again?

It’s been almost five years since BMW stock hit an all-time high of 123.75 euro a share. Five years for investors to wonder why they didn’t sell earlier. As of this writing, the stock trades near 75.40, down 39% from the March 2015 record. On the bright side, the stock trades near 75.40, up 29.9%…

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S&P 500: Last Four Moves Made Elliott Wave Sense

Over a month ago, on November 8th, we published an article demonstrating the Elliott Wave principle‘s ability to predict relatively large moves in the S&P 500. As the move in question progressed we decided to take a closer look into its structure to see what is left of it. The chart below was part of…

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Fibonacci Support Helps Copper Bulls Gain Control

Yesterday, we shared our bullish stance on Freeport-McMoran stock. But of course, Freeport-McMoran is pretty much a pure copper play. Therefore, in order for the stock to climb, the price of copper must climb, as well. Similarly to Freeport stock, the price of copper rose between 2016 and 2018 and has been declining for the…

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2020 to Bring Long-Awaited Relief to Freeport Investors

It’s been a rough couple of years for U.S.-based copper miner Freeport-McMoran. The stock reached $20.25 a share in the first month of 2018. Now, in the last month of 2019, FCX is hovering around $12.10. Despite the significant recovery from as low as $8.43 in October, the stock is still down 40% since January…

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Clorox Stock Can Lose 25% if a Recession Hits in 2020

As a consumer products manufacturer Clorox is one of the so-called “defensive” companies, whose sales are generally not dependent on the state of the economy. However, this doesn’t mean Clorox stock cannot fall during a general market decline or a recession. For instance, it lost 57% in the 1999-2000 rout and over 34% during the…

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GBPCAD Can Reach 1.9000 Before the Bears Return

GBPCAD bulls have been on a roll the past four months. The pair is currently trading above 1.7330, up 9.1% from its early-August low of 1.5875. And while the Forex market is not the place to rely on a trend for very long, it is not uncommon for GBPCAD to make large moves in either…

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Ubiquiti Can Dive in a 50% Elliott Wave Correction

Headquartered in New York, Ubiquiti Inc. is a communication equipment manufacturer with a market cap of ~$13 billion. The stock is up 85% since its late-August low and is now trading in the vicinity of $200 a share. Understandably, such sharp and fast rallies easily attract people’s attention. Extrapolation of the past into the future…

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EURAUD Impulse Pattern Keeps the Bulls in Charge

Twenty days ago, EURAUD managed to stop the bleeding and form a bottom at 1.5976. As of this writing the pair trades around 1.6250 after reaching 1.6324 on November 20th. Is the uptrend still in progress or should we prepare for the bears’ return? A look at EURAUD ‘s hourly chart through an Elliott Wave…

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