All Entries in the "Stocks" Category
Elliott Wave Analysis of BP 27May 2010
Just a few weeks ago, when analysts were saying that BP’s down move to around 575 was overdone, and it will recover to 730 we discussed the stock from an Elliott Wave perspective and suggested we will see 310 (perhaps before I returned from vacation on 23rd June). We have reached that target a couple [...]
Elliott Wave Analysis of BP (Energy Giant)
Just over 3 weeks back the Wall Street Journal reported in its Market Watch that analysts were saying BP’s tumble on oil spill was overdone. It quoted analysts’ target of 730 pence for the share from its current level of around 575 pence. Elliott Wave Analysis of BP however pointed to the opposite direction, and [...]
Elliott Wave Analysis of SABIC (Saudi Arabia)
There are few other approaches to the financial markets that serve us better than Elliott Wave Analysis. As I have said so often, an extended 5th wave can make us rich. Take SABIC for example. Just as recently as 12th May I had warned of a sell off to 75. At that time the SABIC [...]
Elliott Wave Analysis of DLF, India
I am bearish for DLF (a much followed Indian Stock) and expect it to reach at least 215. However, the better level to sell will be near 290.00 Take a look at the chart where I have given detailed elliott wave analysis of DLF. Clearly, there is a preferred level to sell and that is [...]
Elliott Wave Analysis of Tallat Moustafa, Egypt
This is the first time I looked at a stock from Egypt. I was asked to do Elliott wave analysis of Talaat Moustafa, and I’d like to share this with you today. To put it briefly, this stock has legs to reach 9 Pounds, but should it reach 10.45 plus area, be sure to take [...]
Elliott Wave Analysis of Al Rajhi Bank Saudi Arabia
Here I present you with elliott wave analysis of Al Rajhi Bank, Saudi Arabia. As you can see, this stock too has behaved quite technically in the past, and elliott wave analysis suggests that we will eventually get a move that will take us to the previous fourth wave level. So I suggest buying on [...]
Elliott Wave Analysis of ADCB Abu Dhabi
Abu Dhabi Commercial Bank is an important player in the emirate of Abu Dhabi. Elliott wave analysis of its stock shows we could potentially have seen a medium term low and so long as we don’t break below the recent lows, we could well have a multibagger in our hands. Buy dips with stop below [...]
Elliott Wave Analysis of EMAR Dubai
Elliott Wave Analysis of EMAR Dubai is more challenging than some other stocks because Emar has been moving sideways for a while. This bellwether stock of the UAE still looks a bit soft to me and think we could get a dip as part of a B wave before the next rally can materialize. So [...]
Elliott Wave Analysis of Sabic (Saudi Arabia)
Here is the Elliott Wave Analysis of Saudi Basic Industries Corporation, or SABIC. Actually there are two charts that I would like you to see. The first is a monthly chart that shows the huge 5-wave rally to 252.61 has been corrected by a 3-wave decline. Wave B retraced Wave A by 61.8%, and then [...]
Elliott Wave Outlook for Tata Steel
My last Elliott wave update on Tata Steel was back on 18th June. Since then, this stock has behaved perfectly from a technical point of view. Once the extended fifth wave was completed, there was no surprise in the move that followed (and continues to develop). As I have often stated in hese pages, fifth [...]
Elliott Wave outlook for BP (Energy Company)
Today I came across a report where an analyst was calling for BP to reach 730 pence from its current level of around 575.50. However, from an Elliott Wave perspective, the outlook for BP doesn’t look so rosy. I am of the view that we are headed a lot lower. Take a look at these [...]
Elliott Wave outlook on Zain Kuwait
From an Elliott Wave perspective, the outlook for Zain hasn’t changed much since I updated last. After correcting the prior 5-wave rally, the stock has taken off nicely like a 3rd wave should, ie on good volume and at a brisk pace. Some investors are worried because of the recent sideways movement. While it is [...]
Technical analysis of Citigroup
Citigroup has been moving up quite steadily this year. Has it got more room on the upside? I think so. Take a look at the two charts here. The first chart is to illustrate how the stock has respected the Elliott wave patterns very well on its way down. IN the second chart of Citigroup, you [...]
Technical Analysis of some Kuwait Stocks
It has been quite a while since I posted technical comments on Kuwait stocks. So here are some charts that may be of interest to some of you. (Even if you don’t have any interest in Kuwait, you should look at the these charts because they give you additional practice of how one can read [...]
National Industries Group Kuwait Outlook 17 Dec 2009
National Industries Group stock has come down a lot in the last several months. But we can decipher a clear five wave movement having been completed at the lows. The first leg of a 3-wave correction has already been completed, and the second leg is probably already over, or very near completion. Thus, I am [...]