Canadian banks are known to be much more conservative than their U.S. peers. For instance, due to better lending practices, the country barely felt the 2007-2009 housing crisis. That did not prevent its stock market from collapsing in sympathy, though. The share price of the Royal Bank of Canada for example – the biggest financial…
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…
ETHUSD Wave Pattern Can Disappoint the Bulls Soon
For the crypto space, it is 2017 all over again, except bigger. The two biggest cryptocurrencies – Bitcoin and Ethereum – exceeded their previous records and then some. ETHUSD, in particular, is now approaching $2600 and is not very far from doubling its January 2018 peak level. Furthermore, ETHUSD is up 32-fold from its December…
Snap Stock Bouncing Off Fibonacci Support
It took over three years for Snap Inc., the company behind the popular app Snapchat, to reach its IPO valuation. After reaching almost $29.44 on its second day of trading in March, 2017, SNAP stock fell as low as $4.82 in December 2018. On the other hand, investors bold enough to buy near those lows…
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…
Chevron Stock Doubled in a Year, Can Go Higher Still
A year ago it seemed like all hell was breaking loose on the oil industry. Even oil majors like Chevron couldn’t escape the carnage. First it was the pandemic, which forced governments to close businesses and restrict travel. Then, the Russia-Saudi Arabia oil price war worsened the situation as the two countries failed to negotiate…
S&P Global Can Disappoint in Next Couple of Years
In July last year we wrote an Elliott Wave analysis highlighting the possibility of a notable 40%+ correction in Moody’s stock. Seven months later now, the share price is little changed and the negative outlook remains valid. Today, we are going to examine Moody’s major rival – S&P Global Inc. S&P Global is a ratings…
Geberit to Flush 40% of Gains Down the Drain
Geberit Group is one of the largest sanitary technology and bathroom ceramics providers in the world. Headquartered in Switzerland, the company operates through the Bathroom, Piping, Installation and Flushing Systems segments. Founded in 1874, its stock trades on the SIX Swiss Exchange under the symbol GEBN. Less than two years after its early-2000 IPO, the…
Nifty 50 Index Can Severely Injure the Bulls in 2021
The U.S. S&P 500 index is up 67.6% since its March low. The Indian Nifty 50 did even better than that. The benchmark index of the second most populous country has climbed 79.4% from its 7511 bottom nine months ago. It currently trades slightly below 13 500, not far from its recent all-time high of…
EURUSD Surges 570 Pips After Fibonacci Encounter
EURUSD is trading at levels last seen in April 2018, when it was on its way down to 1.0636 by March 2020. The pair is now approaching 1.2200, up 14.5% since the COVID-19 selloff nine months ago. But trends don’t move in a straight line. Two months ago, we showed you how Elliott Wave analysis…
Ryanair Stock, Unlike Its Planes, Can Fly Again Soon
Few industries have been hit harder by the COVID-19 pandemic restrictions than the airlines. Flight numbers and passenger traffic have been significantly reduced in Europe and the U.S. since March. Even low-cost carriers like Ryanair were not spared. Ryanair’s passenger traffic plunged by 99.5% in May and is still down 64% in September. Apparently nobody…
General Mills Bearish Elliott Wave Cycle Spells Trouble
The last time we wrote about General Mills stock was over a year and a half ago. Following a bullish reversal Elliott Wave analysis helped us correctly predict in late-December 2018, the stock was trading above $51 a share in late-March 2019. It was a 33% recovery, whose structure, however, didn’t look quite as anticipated.…
Barry Callebaut Can Drop 25% as Fourth Wave Unfolds
Barry Callebaut AG is one of the largest cocoa processors and chocolate manufacturers in the world. Formed by the 1996 merger of Callebaut and Cacao Barry, the company produces over two million tonnes of cocoa and chocolate per year. Barry Callebaut went public on the SIX Swiss Exchange in 1998 and has been quite rewarding to investors ever since.…
Alteryx: Can We Trust the Pre-Market Enthusiasm?
Alteryx Inc., a self-service data analytics software provider, saw its shares soar 28% in pre-market trading today. The surge was caused by the better-than-expected Q3 revenue guidance the company issued yesterday. Apparently, the news that AYX was going to make $13-15 million more in quarterly sales than anticipated was enough for investors to boost its…
