Why SSNC technologies is bullishAbout 45 trillions of assets are run on the technology provided by SS & C company. Its financial services and health operations have received good feedback from its clients. The principal aspect of this company’s strategy is organic growth and scaling through acquisition which is a double edge sword for a software company as such.
So why are we bullish about SS & C
(1) It is trading below its intrinsic value: The conditions that led to the drop of its stock price from its high in Jan 2022 are beginning to wane. So since the fundamentals of the company are still consistent, we expect either a total reversal to it's all time high or a retest of its preview low after a short term rise in the price before taking its all time high.
(2) A bullish potential pivot area (ppa) spotted: Based on our stock price model, a swing is imminent. It is expected that the swing falls within the stop loss area from the chart above.
(3) A bullish Elliot wave outlook:
From the snapshot above we can see that we are currently in a corrective structure after the 12345 impulse was over. We are expecting the abc correction to end soon and the next wave to commence if the correction does not become complex.
(4) A bullish XABCD pattern has been identify:
From the image above we can see that the D wave is about to be completed for the bull run
(5) The Bollinger bounce and the overbought stochastics:
The Bollinger band indicator is very helpful in ranging markets like this one, we can see from the snapshot above that the price is already hitting the lower band. We are expecting a bounce towards the middle line of the indicator.
The stochastics is already oversold, so we may see a reversal soon, just like it happened at other points in the snapshot.
We would love to hear your views and questions in the comment section below. Thank you for following along.
The Nedium Team
