The first and only time we wrote about LKQ Corporation was in late-September, 2020. The stock had just doubled from its coronavirus plunge and was hovering around $27. Despite the recent strength, however, we thought the shares still present a good investment. In a time of crisis one cannot rely on charts alone, so the…
Tencent to Start Rising Amid China’s Tech Crackdown
Stocks of China’s tech giants have been falling for months as the country’s crackdown on the industry spooked investors. After Alibaba was slapped with the biggest antitrust fine in China’s history, risks increased that regulators are not done with Tencent despite its own $1.5B fine. As a result, the stock fell from its February 2021…
Tesla ‘s Bubble Appears to Be Bursting at Last
Our previous article about Tesla stock, published November 17th, 2020, called for a surge to ~$600, followed by a major bearish reversal. We thought TSLA was then rising in wave 5. A new all-time high was supposed to occur, but since fifth waves conclude every impulse, we opined the bears would be eager to return.…
Etsy Aims for $300 Before Bears Cut the Stock in Half
The last time we wrote about Etsy was on January 18th, 2019. The stock was trading close to $54 a share and was up a staggering 803% from its January 2016 low. Etsy’s profits could not possibly justify its then $6.6B market cap, but with sales growing so rapidly, some people were already comparing it…
NovoCure to Shed Another 40% After Today’s 15%
Founded in 2000, NovoCure develops treatment for tumors using specific frequencies to disrupt cancer cell division. The company went public in 2015 and, after a disappointing 2016, has been making investors very happy ever since. On the other hand, the stock is down over 15% today despite positive TTFields liver cancer study results. Normally, an…
Nifty 50 Index – Assessing the Fifth Wave’s Progress
In our previous article about the Indian Nifty 50 index we expressed an opinion that its uptrend cannot be trusted for much longer. Our skepticism was based on the benchmark’s weekly chart, which revealed a clear impulse pattern. A three-wave correction follows every impulse, so with the price around 13 500, we thought it was…
Essex Property to Lose Half After Reaching New Record
Essex Property saw its stock price drop to as low as $176 during 2020’s Covid selloff. From the October 2019 all-time high of $334, that was a 47.3% total decline in less than five months. Fast-forward to today, it feels as if 2020 was just a bad dream. The stock is hovering around $307 right…
Cathie Wood’s ARK to Add 40% Before Turning South
In the twelve months between the Covid crash bottom in March 2020 and February 2021, the ARK Innovation ETF returned 385%. Bold bets on disruptive and promising, yet still money-losing companies turned fund manager Cathie Wood into an investing superstar. However, after the fund’s staggering surge from just $33 to nearly $160 a share, it…
Ryman Stock Can Revisit Its Covid Crash Lows
Retirement homes were hit especially hard by COVID-19. Sadly, many of their clients lost their very lives as elderly people are the most vulnerable demographic. And although New Zealand and Australia have so far dealt with the pandemic better than most, the spring of 2020 was a real nightmare for companies like Ryman Healthcare. With…
Toronto-Dominion Another Canadian Bank to be Wary Of
A few days ago we shared our bearish stance on Royal Bank of Canada. Its price chart revealed a textbook pattern that took 25 years to develop. Today, we are going to examine another one of Canada’s Big Three banks – Toronto-Dominion. The second largest bank in Canada came into existence after the merger of…
Royal Bank of Canada Looks Toppy and Dangerous
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%…
ETHUSD ‘s Bearish Elliott Wave Cycle Almost Complete
The time between May 12th and May 23rd is a period ETHUSD bulls would want to forget. The second largest cryptocurrency fell from an all-time high of $4380 to as low as $1730. While some might consider crypto to be gold 2.0, crashes like that one reveal that the space is still a wild west…
Canada Goose Elliott Wave Pattern Points North
Canada Goose stock reached its all-time high in November 2018 and has been trading below it ever since. The coronavirus selloff actually led it to a record low, erasing its entire gain as a public company. But March 2020 turned out to be a great time to buy. The share price is up 210% from…
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…
