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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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.…

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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…

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In Gold ‘s Elliott Wave Footsteps from 1200 to 1350

Gold bulls can be very pleased with their progress in 2019 so far. Three days ago, the precious metal climbed past $1346, bringing its total year-to-date return to 5.2%. Furthermore, gold is up 12.6% from its mid-November low at $1196. “Uncertainty” is once again the usual reason people use to explain gold’s surge. Trade war…

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Nifty 50 to Fall Below 10 000 Level Again?

It has been almost five months since our last update on the Indian Nifty 50 index. On September 25th, the benchmark was trading around 11 000, following a pullback from the all-time high of 11 760. Still, the Elliott Wave analysis below suggested it was too early to buy the dip. The daily chart of…

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EURUSD Reversal Needed “Breathing Space”

EURUSD plunged below 1.1260 earlier today. The pair has been steadily declining during the last twelve months and the latest drop suggests a new low is very likely to be reached soon. But it wasn’t all that clear two weeks ago, when the Euro was hovering around 1.1400 against the U.S. dollar. Then the Elliott…

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A Month Ahead of USDCAD ‘s Bullish Reversal

USDCAD finished 2018 in a positive mood. The pair reached 1.3665 on the last day of last year, but 2019 has not been so generous to the bulls so far. By February 1st, the rate was down to 1.3069, losing over 4.3% in just a month. But let’s take a step back and see where…

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EURNZD: Is February Going to Mimic December?

It was November 30th, 2018, when we last talked about EURNZD. The pair was trading near 1.6570, following a sharp selloff from as high as 1.7929 in less than two months. After such a huge and fast decline, traders were understandably very pessimistic about the pair’s prospects going into December. However, extrapolation is a dangerous…

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