Nickonomics

Nickonomics

China's stockmarket crash coupled with mixed earnings results put pressure on Baidu (BIDU). The company reported profit for the second quarter of 3.66 billion yuan ($591 million), up slightly from 3.55 billion yuan in the same quarter a year earlier. EPS stands at $1,81, which is below analysts' estimate of $1,84. Baidu's revenues rose 38 percent from a year...

Nickonomics

The stock is heading lower in wave 5. Friday sell-off as well as "Zero-line reversal" pattern has put it on our "short list".

Nickonomics

Bullish wave count suggests s/t uptrend continuation. UPDATE: Weak retail sales data has led to a correction below 1.56. The bullish count is valid unless price penetrates 1.5528 (wave C bottom).

Nickonomics

A daily close below 34.40 would indicate that the Flat correction (A-B-C), which has unfolded since Dec 2014, is over. There is a short-term reversal pattern that supports the case. Another possibility in the short term is that we could have 5 waves down already completed, than there should follow a move up to 35.30 area, and, finally, the sell-off. AT&T is...

Nickonomics

The stock has been a laggard this year, dropping as much as 19,81% YTD. A massive Head&Shoulders pattern combined with sound wave analysis picture suggests more selling pressure is coming. On the fundamental side, the Fed's intention to hike rates this year makes the dollar more appealing, which has already been hammering profits at U.S. multinationals. Stop-loss...

Nickonomics

Yesterday the company published a mixed earnings report. It reported: * earnings per share of $3.84 versus expected $3.78; that's a beat. * revenue of $20.8 billion versus $20.95 billion, that's a miss, and the 13th consecutive quarterly decline. The stock lost nearly 5% in the after hours. We are expecting more downside, as the wave count suggests the...