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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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Disney Stock Forming a Major Elliott Wave Top

The last time we wrote about Disney stock was on April 17th. The company had just announced its own streaming service, sending the price sharply higher to over $130 a share. The interesting part was not the surge itself, but the fact that the Elliott Wave principle managed to prepare us for it a year…

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Nikkei 225 Can Lose 30% in Next Corrective Wave

The Japanese Nikkei 225 reached a multi-year high of 24 448 in October 2018. The last time the index traded this high was 27 years ago, in 1991, in the aftermath of the Japanese asset bubble. However, the bulls couldn’t maintain their momentum last year, which opened the door for a decline to 18 949…

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Bristol-Myers Stock Pattern Triggers a 37% Surge

Bristol-Myers Squibb and Celgene are expected to merge into a single company before the end of the year. The deal will create the fifth largest pharmaceutical company in the world with sales of approximately $42 billion in 2019. Bristol-Myers fell sharply after the deal was announced in early-January. In late-April, the stock was still in…

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Home Capital: Third Wave Lifts Stock 140% in 2019

Home Capital Group is up 17.4% in Toronto today following the company’s third quarter financial report. The mortgage lender beat analysts’ earnings expectations and delivered improvements in other areas, too. In total, HCG is up ~140% in 2019. But things didn’t look so rosy at the beginning of the year. The stock was hovering in…

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