One of the global professional services firms that is still enjoying the bull run but is it for long and can retail investors join it?
Fundamental indicators:
Technically:
Looking at both fundamental and technical indicators there might be a possibility for short term trade with a circa 20% upside, however risks are growing and it might be better idea to wait for the report and act accordingly.
What do you think about this idea?
Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.
Thanks
Fundamental indicators:
- Revenue and Profits - consistent long term growth for the past 10 years
- Profit margin - effective company with circa 16%
- P/E - overpriced at 25
- Liabilities - no problems
Technically:
- Following the correction in March 2020 which has completed an Extended Flat wave, there was an explosive growth in the final 5th wave
- It looks like the lower degree waves have also progressed to the extended 5th where the final impulse is about to start once the current Running Flat correction is finished
- The target for the final wave can be identified by Fibonacci levels and in the range from $187 to $209, which are 0.618 and 1x of wave 3 respectively
- Given the next earnings report is in the end of July, this bull trend may last until then
Looking at both fundamental and technical indicators there might be a possibility for short term trade with a circa 20% upside, however risks are growing and it might be better idea to wait for the report and act accordingly.
What do you think about this idea?
Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.
Thanks
In search of the optimal signals