Every chart tells a story. Our analysis does more than track market moves. It shows you the structure behind them.
See how we analyze price action, build scenarios, and put opportunities and risks out in the open.
The HKCM Method
Many market analyses make empty promises
“This is 100% going to happen!”
We work professionally and objectively:
“Where is the short- and medium-term trend headed? What developments are most likely?”
Our analysis is built on the Elliott Wave method, market structure, probabilities, and clearly defined scenarios. Even in messy markets, technical analysis keeps you oriented. Sound decisions start there.
Step by Step
Click through the interactive chart. Below, you'll find an explanation for every element of our analysis.
Spot Market Structure
Price Waves
Prices don't move at random. They form recurring patterns we call price waves.
Wave counting helps us identify trends, read market phases, and spot potential turning points.
Possible Price Targets
Target Zones
Target Zones mark price levels where we see a higher probability of a market reaction.
Opportunities With an Attractive Risk Profile
Long-Term Entry Ranges
Price zones that offer long-term investors an attractive risk/reward ratio.
Our Preferred Scenario
Primary Scenarios
Shows the price path we currently consider most likely.
It's not a guarantee, just the most plausible outcome given the current market structure.
Seeing the Full Picture
Alternative Scenarios
Markets don't always follow the preferred scenario.
That's why we define Alternative Scenarios with fixed conditions.
Key Price Levels to the Downside
Support Levels
Price levels where the market has shown buying interest in the past.
These are key levels for calculating risk and spotting possible trend reversals.
Key Price Levels to the Upside
Resistance Levels
Levels where the market has previously run into selling pressure.
These can signal profit-taking opportunities near potential Target Zones.
The Foundation of Our Analysis
Our analysis combines Elliott Wave Theory with
modern market-structure and probability analysis.
Transparency, Not Predictions
We don't believe in sure things. That's why our analysis always shows:
which outcome we currently favor
which alternatives
what risks
which price levelsSee HKCM Analysis in Action
Get access to our daily analysis on stocks, indices,
commodities, and cryptocurrencies.
All analysis provided on this website and in HKCM's publications is based on the Elliott Wave method of technical chart analysis and on indicator- and cycle-based analytical methods. The method and the underlying assumptions are explained in more detail in the individual publications. This analysis and information is provided for general informational purposes only and does not constitute investment advice, a specific recommendation to buy, sell, or hold any financial instrument or crypto asset, or a recommendation for any particular investment strategy. It reflects our opinion only. The opinions expressed may change at any time without prior notice. All information is prepared carefully and in line with our knowledge at the time of preparation; however, no warranty or liability is assumed for its accuracy or completeness.
In particular, no individual investment recommendations are given. Any mention or discussion of issuers, securities, derivatives, trading platforms, or other financial service providers is purely informational and does not constitute a recommendation to acquire, hold, or sell.
Users and subscribers who make investment decisions and/or carry out transactions based on the information provided do so on their own responsibility and at their own risk. The information provided cannot replace individualized investment advice tailored to a user's or subscriber's personal and financial circumstances by a qualified investment, wealth, or tax advisor. HKCM assumes no liability for losses or damages arising from the use of the information provided.
We expressly point out that investing in the capital markets and trading in any financial instrument, including stocks, bonds, securities, derivatives, and crypto assets, involves risk, including the risk of a total loss of the capital invested. Past performance is no guarantee of future results. Trading in financial instruments such as warrants, futures, so-called leveraged products, CFDs ("Contracts for Difference") or other derivatives in particular carries substantial risk, including the risk of a total loss of the capital invested and even the risk of losses beyond the capital invested. Such transactions are speculative and require a high level of expertise in financial markets, trading instruments, and the strategies involved. CFDs and other leveraged products in particular are complex instruments and, due to the leverage effect, carry a high risk of losing money quickly. Before investing, users should consider whether they understand how the relevant financial instruments work and whether they can afford to take the risk of losing money.
Managing directors and employees of HKCM may hold positions in the financial instruments or crypto assets discussed in our analysis or articles at the time of publication.
The information provided is based on sources considered reliable. However, no warranty is given for the completeness, accuracy, or timeliness of the information, interpretations, and calculations.
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Responsible for the preparation of the publications:
Hopf-Klinkmüller Capital Management GmbH & Co. KG
Hasenbergsteige 5
D-70178 Stuttgart
Contributors to the preparation of the publications:
Philip Klinkmüller (Managing Director), Murat Örs (Head of Analysis), Marvin Schmid (Senior Analyst), Raffaele Lanzaro (Senior Analyst), Max Pfeffer (External Analyst), Max Donner (Analyst), Daniel Geier (Analyst), Julian Schönfeld (Junior Analyst), Robin Lässer (Junior Analyst).