Whether Obamacare is unconstitutional or not is up to the policy makers, but the uncertainty surrounding the matter caused a broad selloff in the healthcare sector. Cigna, Humana, CVS Health and UnitedHealth lost a significant chunk of their respective market caps after the DOJ sided with a December 2018 Texas district court ruling that the…
Palladium Draws a Pattern that Should Scare the Bulls
The price of palladium rose significantly during the months between August 2018 to February 2019. By mid-March 2019, it was up nearly 52% from the August 2018 lows, climbing to an all-time high of $1615.30. The industrial metal’s wide use in the auto industry as well as its growing popularity in the jewelry business are…
USDJPY: Analyze, Prepare, then Let the Market Decide
USDJPY reached its higher level so far in 2019 yesterday. The pair climbed to 112.166, extending its recovery from the 109.71 bottom formed last month. But the bulls didn’t always look that confident. Just a week ago, the pair was hovering around 111.15, down from 111.83 five days earlier. Instead of forming an opinion based…
The Elliott Wave Pattern behind Disney ‘s 30% Gain
Depending on the amount of time a position is kept open, traders can be separated into three categories: scalpers, day traders and position traders. The third group is known for holding a position for weeks, months or more if required. That group was recently rewarded by the sharp surge in Walt Disney stock. A little…
USDJPY Proves You Don’t Need to Pick Tops/Bottoms
USDJPY closed at 111.72 last week and is now within striking distance of its 2019 high of 112.14. But just two weeks ago, the pair was down to less than 110.00 after a sharp selloff from 111.70. Instead of joining the bears simply because the price was falling, we looked for an Elliott Wave pattern…
Copper Bulls Still in Charge but Need to Regroup
Similarly to the general commodity market, copper has been steadily climbing during the first quarter of 2019. Three months ago, the price of the industrial metal fell to $2.5281/lb. As of this writing, it is hovering around $2.9266 after reaching $2.9808 on the last day of March. According to the media, copper’s rally can be…
Chipotle Stock Bulls Aiming at $900 a Share
The last time we wrote about Chipotle Mexican Grill, the stock was hovering around $470, following a rally from $248 in six months. The company was recovering from its 2016 E.coli, salmonella and norovirus outbreaks and Wall Street was once again embracing Chipotle stock. However, instead of joining the bulls right away, we decided to…
USDCNH Elliott Wave Pattern Points to Recovery
Less than five months ago, on November 1st 2018, the U.S. dollar climbed to 6.9806 against the Chinese yuan, following a sharp rally from as low as 6.2359 in March. Unfortunately for bulls, USDCNH couldn’t maintain the positive momentum. As of this writing, it is hovering around 6.7200. In order to find out if the…
NZDUSD Bulls Choosing a Path to 0.7000
Less than three months ago, on January 7th, we published an analysis of NZDUSD. It was trading near 0.6750 at the time, following a sharp decline from 0.6970. However, instead of simply extrapolating the selloff into the future, we examined the chart below through an Elliott Wave perspective. And it gave us a few reasons…
MNST Stock Can Lose 25% From Current Levels
Despite the fact that 2018 was the best year in Monster Beverage Corp.‘s history in terms of earnings and revenue, MNST stock was another story. The share price reached an all-time high of $70.22 per share in January 2018, but eventually closed at $49.22 in December. A decline of almost 30%. Obviously, improvements in business…
USDJPY: How to Buy and Hold a Forex Pair
USDJPY has been in recovery mode since the “flash crash” on January 3rd. The pair plunged to as low as 104.82 that day, but the bears couldn’t maintain their momentum. The market reached 112.14 on March 5th for a rally of over 730 pips. Of course, picking up all of it would have been pure…
USDCAD Bears Paying the Price for Failing at 1.3069
A week ago, USDCAD was barely holding above 1.3100. The pair was still in the doldrums following a steep decline from its late-December high of 1.3665 and it appeared the bears had no intention of leaving. But in order to confirm their ambitions to drag USDCAD even lower, they first had to deal with the…
Horizon Pharma Stock Was Cut in Half. Then it Tripled
Horizon Pharma (NASDAQ:HZNP), headquartered in Dublin, Ireland, is a $4.7B biopharmaceutical company operating primarily in the United States. In July 2015, its stock was in the vicinity of $39.50. By May 2017, it was trading under $10 per share. We first examined Horizon Pharma stock’s prospects in September 2016, when it was searching for direction…
OLED Stock can Halve if Rejected at Fibonacci Level
Universal Display (NASDAQ:OLED) stock is hot again. The share price is up by over 90% in less than two months, climbing from under $79 to above $151 since January 3rd. But is the bulls’ optimism warranted? Six months ago, on August 15th 2018, we examined OLED stock through the prism of the Elliott Wave principle.…
AMD Stock Carries More Risk than Reward near $25
AMD stock is up almost 34% since the start of 2019, beating the year-to-date return of the S&P 500 three times over. Shares fell to $16.04 on December 26th, when the bulls finally managed to fight back. Yesterday, the stock closed at $24.71, following an intraday high of $25.51. Most people, anticipating the rally to…
