Earnings at PNC Financial suffered last year along with the entire financial sector. Net income before extraordinary items came in at $2.95B in 2020, down from $5.35 in 2019 for a 45% reduction. In our opinion, amid the biggest crisis since the Great Depression, the fact that PNC and its peers even managed to stay…
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…
S&P 500: Turning Bullish While the World Fell Apart
We find it hard to describe the past twelve months. What a year it’s been. A little over a year ago, the world was in utter panic. No-one really knew what is going on nor what was going to happen next. The prevalent emotion across the globe was fear. In the financial markets that fear…
Ahead of Hibbett ‘s Unlikely Surge to New Records
Hibbett Sports Inc. is an American sporting goods retailer with more than 1000 stores in over 30 states. We first wrote about the company in the summer of 2017. The stock was trading below $16 a share back then, following a decline from as high as $68.31 in late-2013. At first glance Hibbett looked like…
Walgreens Stock Confirms Downtrend is Over
Walgreens stock had been declining for over five years between 2015 and 2020. One of the largest pharmaceutical retailers in the world reached an all-time high of $97.30 in August 2015. In late-October 2020, it fell to $33.36, losing almost 66% from the record. It must have been difficult for Walgreens investors to keep a…
Interpublic on the Verge of Doubling Amid Pandemic
We first wrote about Interpublic in March 2018. The stock had just reached $26 a share, but we thought an Elliott Wave correction can “easily erase about 50% of Interpublic ’s market capitalization.” Two years later, during the coronavirus panic in March 2020, IPG fell to $11.63, down 55% from the 2018 high. Fortunately, the…
Expedia Acts As If Travel Restrictions Do Not Exist
We last wrote about Expedia in mid-2020. Countries around the globe had mostly closed their borders, the COVID-19 vaccine was still just a hopeful prospect and the summer travel season was practically ruined. No wonder the stock of Expedia, one of the largest travel booking companies, was down 46% from its 2017 high. Yet, during…
The Trade Desk to Exceed $1000, but Not by Much
The first time we wrote about The Trade Desk was in May 2019. The stock was trading above $220 a share and we thought a notable correction can soon be expected. That call was rather premature though, since the bulls added another $100 before giving up. However, by March 2020, TTD was down to $136,…
Steel Dynamics – Pocketing 100% Gain in Ten Months
We first wrote about Steel Dynamics on January 16th, 2020. The stock was trading near $33 a share, down from its May 2018 record high of $52.10. However, the Elliott Wave structure of this decline made us think more weakness can be expected. Two months later, in mid-March 2020, the stock dipped below $15 a…
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…
Apple Dips – Opportunity or Something Else?
Apple needs no introduction. It is the biggest, most profitable company in the world and the top holding in Warren Buffett’s Berkshire Hathaway portfolio. And indeed, breaking sales and earnings records quarter after quarter at such a huge scale means Apple really is a great business. But after reaching an all-time high of $145.09 on…
Time to Play It Safe in Goldman Sachs Stock
Goldman Sachs is trading at record highs around $330 a share. Increased market volatility helped the bank’s trading division save the day in 2020. Unlike most of its main competitors, GS actually earned a higher profit last year compared to 2019. During the coronavirus selloff, Goldman Sachs stock dipped below $131 a share. Investors who…
HZNP Stock Blows Past All Expectations. Now What?
We first covered Horizon Therapeutics, then Horizon Pharma, in September 2016. The stock was trading around $18 a share after a decline from the vicinity of $40. However, we didn’t think it was time to buy. The structure of the preceding rally ending in mid-2015 was impulsive and we thought the bears were not done…
AZPN Stock Too Expensive for Its Own Good
Exceptional margins and returns on assets and equity make the surge in Aspen Technology shares easy to understand. AZPN stock exceeded $162 a share last week, up 122% from last year’s low at $73. On the other hand, the software company is expected to earn $5 a share in this fiscal year. This means the…
Amerco Stock Carries Very High Risks Above $500
Amerco is a $10B moving and storage operations and insurance provider. The company is founded in 1945 and went public in the mid-1990s. The stock trades under the symbol UHAL and is currently hovering at all-time highs above $500 a share. The recovery from March 2020 was especially rewarding with Amerco stock rising 125% in…
