The Long Investor

$LCID

I can't believe I am saying this but this little rascal is not in a bad position right now.

Leading Diagonal impulse wave from June and pulled back in 3 perfect waves to a confluence level between the 0.5 Fib and 0.618 Fib and the 200 Day MA and also in the apex of a wedge.

So a hold here and breakout above $3.60 and there is a move to the top blue line at $5 next and beyond for Wav...

$BIDU TOP 20

I think the pull back for Wave 4 has started, the RSI has also confirmed this too.

Like I said in the chat group, the 0.38 Fib at $102 is the target for this pull back, very similar to $BABA at $99.

I believe we will have an opportunity shortly to add to our favourite Chinese positions, so choose wisely

The fact they are all moving in sync now is also a testament to the bullis...

$ABNB TOP 20 - WATCHLIST -

$ABNB has used the 50 Day MA for support and now using the 20 Day MA for support, still between the 0.38 - 0.5 Fib support levels too.

Price has not made its move yet so this is still a good entry point and just slightly above where I added, so you have not missed anything.

Impulse wave is still the dominant count here

Losing $122 and this would cause some concern but I will a...

$MARA - RC-

$MARA looking very $SOFI here before it broke out of its own very long wedge.

Price continues to trend downward through this wedge and being kept down by the 200 and 50 Day MA.

With $BTC struggling with its own 200 and 50 Day MA is not a surprise to see this correlation

$MARA can continue in this range until $BTC decides on which direction it will take first.

Losing the ...

$IQ

Handle appears to be forming now for this Cup.

A higher high has not been made this week either and we are getting a good pull back in the PM like the other Chinese ADRs

Fib levels have not changed and the 50 Day MA and the 0.5 Fib at $2.62 is looking like the sweet spot.

I'll keep you updated, bag holders, we are coming to save you!!

$FSLR - RC -

Looking very straight forward here

Wave 5 finished at the 2.618 Fib which is as standard as you'll get

Pulling back in a corrective wave now

Wave A also held and bounced on the 0.38 Fib too, so I would be looking for a rejection sooner before making a higher high, if this can come next, then Wave C is the target at the 0.5 Fib

LVMH - RC -

No changes to this chart but I have not uploaded it since Jan 2024

I still have this in a corrective wave but I can see why it was asked for again

The bounce on the 0.38 Fib at 673 was quite strong and on an important support level too.

The price can simply just be retesting the channel from below which is also where the 200 Day MA is at too

A rejection here at Wave C is...

$CPNG - RC -

Nice double hold here on the 0.618 Fib, price then used this as a platform to break higher and above the blue line support line at $21 now and in the Bull Case

If the price can continue to hold above $21 then the next target is the 1.618 Fib at $32 for Wave 3.

$CNH - RC -

$CNH is a requested chart but I have to say, I really like the look of it

I'll explain:

• Bottom yellow trend line has been in place since the GFC crash in 2009

• Moving in a bullish trend since

• 2020 Covid low crash started Wave 1

• Pull back since 2023 has come back to the 0.618 Fib for Wave 2 and held

• Which is also the ...

  2024-10-03 12:32:06 +0000 UTC View Post

$NIO TOP 20 - ALTERNATE VIEW

I have just uploaded the regular $NIO chart just now but I always cross check my work on other charts to see if I have missed something and there is one clear observation that I have found

Firstly I said on the original chart to watch for support anywhere from the 0.38 Fib at $6.15, this is still in place regardless of both charts, this the main point here.

But look at where the lar...

$NIO TOP 20

There is a lot of activity around the $7 level, apart from it being a whole number, we can see that it was a support level prior to December 2023, on the retest of this level in Jan 2024, the price could not hold and this started a 9 month decline.....so $7 is an important level.

But we want this level to not hold and pull back further

We can see clearly now that the 0.618 Fib at $5...

$BABA

I think the initiation of the market pull back is happening now, HSI did drop -10% at the opening but recovered a lot but I think this was the signal to the market that the pull back further will continue

If this is the case then the Wave 4 level on the 0.38 Fib is nice and tidy at $99, like I always say, I want control and structure and respecting the Fib levels

I can allow s...

$HIMS

This is getting to be old news now, $LLY report that they are no longer short of their GLP drug and $HIMS share price sinks.....but let me be clear, this share price was pulling back regardless, it needed something to trigger it and market makers took advantage and played the market.

The pull back was happening either way and we have been waiting for it.

We can see that the pull bac...

$BTC TOP 20

I wanted to be wrong on my assessment of the white circled area.....where I said it is difficult to see how this is anything more than a 3 wave movement....making it difficult for an impulse wave higher to form.

I hope I am still wrong...but $BTC is making hard work on these support levels

The 200 Day MA failed on the retest and has so far sunk down to the 50 Day MA support lev...

$ETH

$ETH and Crypto have started 'Uptober' poorly, pull back has been aggressive and has gone beyond the 0.618 Fib pull back level, so we do not have a double....in fact a treble 0.618 Fib hold here just yet, this may still come in if the price does not come down to the 0.78 Fib at $2274

Losing these levels and we are looking at a third test of the Primary 0.618 Fib at $2111

This is als...

TWEET: Approach to Investing

Our Approach To Investing:

- Find fundamentally undervalued positions

- Find the trend (impulse wave or corrective wave)

- If an Impulse (bullish) wave, determine which wave it is in, if you are early: Aim to Buy as Wave 2 completes.

- Determine the Price Target for Wave 3 and Wave 5

- Trim profits when Wave 3...

$SOFI

This lacklustre heartbreaker is holding above the 200 Day MA right now and we can see that the 50 Day MA is moving up to this level now, if there is a bounce shortly back to $8.23 then we could get a Golden Cross and the $SOFI cult are going to absolutely lose their minds!

But we know that the signal we want to see is a break above $8.23 and holding above this level, that's it.

2024-10-02 15:45:08 +0000 UTC View Post

$ONON

In Asia again this week and reminds me of $ONON again, identifying how popular I saw they were in Japan last year when the price was in the low 20's.

Price has now rejected at the $50 level and the Second Target so far

Just at the 20 Day MA now and losing this level and it is a large drop down to the 50 Day MA which would confirm Wave A for me at $45.

Adding $ONON in Wave C be...

$IWM - RC -

Small caps continue to move in a controlled manner here, pulling back in an ABC count and about to test the 50 Day MA which is conveniently at the wedge break now at $215, making this a strong confluence level

A hold here and we have a good support level and I believe this can move higher over the next few months to our Wave 3 target at $245.

Very straight forward here.

$PYPL TOP 20

I have just provisionally added the Amber Fib levels now to show where a pull back can come if Wave 5 is in

I think a lot of members would be keen to add to their position here if we get a pull back to the blue line, which is in between the 0.5 - 0.618 Fib levels at $68.

I certainly will.

I also think $PYPL has shown that it is preparing itself for its next chapter and the CEO...

$YINN

The 2.618 Fib at the Second Target exactly is absolutely blowing my mind

Two completely different technical approaches and they both align.

Like the HSI, I am working off the larger impulse count here, as the smaller count in this Wave 3 is bonkers, so best to look at the bigger picture.

It also aligns with the HSI chart too.

What is clear: if you get a chance to add at ...

$NKE TOP 20

$NKE issued their earnings report yesterday and it was a mixed release

Beat on EPS but slightly missed on revenue.....guidance was that the new CEO needed time to make an impact and FY guide was withheld....which I believe is fair

The market did not like that......the market doesn't like uncertainty....but this is only a short term movement

Let's look at where the PM price is?...

$AMD TOP 20

$AMD is showing some difficulty at the blue line at $164, it broke above but on the retest did not hold, we know how important it is to see this

Since then, the price has lost the 200 Day MA at $161 too

In the PM we are seeing some green so let's see how the price behaves on the retest of the 200 Day MA from below, another rejection here and the white fib levels is where we are watc...

$RKLB

$RKLB is behaving itself

Wave 5 hit the 2.618 Fib and was met with resistance and as we know, the 2.618 Fib is the normal upper limit range for Wave 5

So I have added in the Amber Fib levels to show where support can pull back too for an ABC pull back.

Confluence level has also been found on the blue line and 0.618 fib at $6.10

This would be an area of interest to add. 2024-10-02 12:53:14 +0000 UTC View Post

$SPY TOP 20

Yesterday there was a brief sell off in the market due to the escalation in the middle east but we can see on the chart that it was simply just a retest of the $565 breakout level.

Retest of such important levels, particularly holding is a very bullish signal.

If the price can continue to hold here then we could see more bullish sentiment creeping in and $AMZN is a stock I am watchi...

$OXY

We added yesterday, $OXY is a company we have been following for 2 years, we like Buffetts assessment and reasoning, it is also very appealing holding on the 0.5 Fib now above $49

Yesterday we got a catalyst due to the escalation in the Middle East

So we made the decision to add again, it is not always good to capitalise from conflict....but we made the decision to add before this h...

TWEET $BABA TOP 20

$BABA 

PM hit $120

200WMA is at $120

Previous High from Jan 2023 is at $120

It's been beautiful and it's been perfect

$NIO TOP 20

The very clear message here is: The pull back on Monday was not the ABC correction

If a new high is made today then we are still in the impulse wave

The ABC pull back is still next to come

There is momentum here and it's being lead by the stimulus euphoria

The extended Fibs for Wave 5 go as high as the blue line at $9.56, which was the high in Dec 2023

There is no ...

HSI

OK

The HSI is making me work hard

That being said, the only absurd thing right now is how fast this Wave 3 of Primary Wave 3 is moving

These waves combined are the most aggressive waves but since this is an entire exchange, it makes it even more incredible that an exchange could move this fast

That being said

We have not hit the Primary Wave 3 target at the 1.618 F...

$CRWD

No changes to the chart, in fact this chart has been spectacular.

Price rejected at the 200 Day MA and the blue line very clearly and has trended down

I don't intend to change anything and I suggest holders keep an eye on the 50 Day MA here, if it is lost then the trend may accelerate lower to our Wave C target.