$COIN continues to hold above its 200 Day MA, as it waits for $BTC to get back above its $61,800 level and hold.
I believe if $BTC can do this then $COIN will move higher with it
Overall, I am bullish on both $BTC, $ETH and $COIN long term and believe that once their correction is complete, they will have no issues moving higher
$COINS bullish target remains at the blue line at $...
No concern regarding $GOOG in this set up, price was has been negotiating with the 0.28 Fib at $167 but I do not consider it a strong resistance level
I would much prefer to watch for a test on the 50 Day MA
The plan from the weekend brief remains the same, I believe we can benefit here from a bounce for Wave B or if the market pushes to new ATH
If you believe the market will ...
2024-08-22 13:50:02 +0000 UTC View Post
What $BIDU earnings has confirmed to me is that there is no reason for share price to be at its 2010 level.
It remains undervalued and I believe that the worst is behind $BIDU and we may be looking at the same reaction to $BIDU as we got with $BABA post earnings too
The HSI is also favourable here too, which is why I added it just now to offer guidance.
Let's see how the marke...
2024-08-22 13:07:31 +0000 UTC View Post
Needham increased their PT today to $24 and briefly spoke to their customers that $HIMS is more than a GLP company and will continue to growth at an outstanding rate of +40%
$24 would be close to the previous high but I think this is a good target in the short term too
We have been updating on this chart all week and liked the higher lows on the 0.618 Fib, nothing the dip getting bo...
2024-08-22 13:00:58 +0000 UTC View Post
I just have some time to look over some charts before I add more after 12 noon EST.
HSI had a positive day up 1.4% and we can see that a test of the 0.5 Fib was made this week and has bounced here now but stopped at the 50 Day MA
So we know the price action is respecting support and resistance levels
Likewise, if the price action can flip the 50 Day MA to support then the tren...
2024-08-22 12:56:17 +0000 UTC View Post
$RIVN is now sitting on its 0.618 Fib at $13
When it was announced that VW was partnering with $RIVN and investing $5 Billion with them, the share price jumped from $11 to $16 for Wave 3, pulled back for Wave 4 and completed its Wave 5 at the 2.27 Fib.....standard
Then the pullback came, in 3 waves and sitting on the 0.618 Fib
You can not ask for more than that from a chart 2024-08-21 21:36:14 +0000 UTC View Post
Earnings was a double beat but guidance apparently was not enough for wall street and the price is down -7% in the PM
However
There is no changes to our chart and I suggest waiting for a test of the green fib levels before taking action
If $SNOW can hold support then this is merely a standard pull back
$SNOW will need to hold above the $110 level and Wave C is still acti...
2024-08-21 21:32:50 +0000 UTC View Post
$ONON has simply been a fantastic stock to own and its chart is a marvel of price action strictly following and using support levels to propel higher.
Cup and Handle formation continues to look well here and a route up to $55 is still clear.
2024-08-21 14:00:49 +0000 UTC View Post
Nothing has changed for us here, in spite of $WMT selling its entire position at a loss now and under its market value.
I can see an inverse H&S forming here too, once it can hold above its current level
Bulls will feel more comfortable when the price can recapture the 50 and 200 Day MA at $26.50, which gets it above the 0.618 Fib too
2024-08-21 13:56:24 +0000 UTC View Post
Who has added here?
+36% jump now since holding on the 200 Day MA, the wedge support line and the 0.5 Fib and looking set to continue moving higher to the $150 blue line.
Bouncing now very well for what I believe is Wave B
I do not see any form of Wave B in the aggressive decline from $395 to $200, so we must assume that this bounce is Wave B
Blue line also aligns with the 200 Day MA so I expect some resistance here
No changes to the chart.
2024-08-21 13:51:52 +0000 UTC View Post
Just an observation at this stage but worth watching....
200 Monthly Moving Average aligning with the 0.618 Fib at $227.
RSI on the monthly chart shows a clear trend too to the downside
2024-08-21 13:40:36 +0000 UTC View Post
$UAL is just sitting on its 0.618 Fib, taken from its ATH line and ATL low now
After the 2008 crash and the peak in 2018
Airlines are cyclical and will always move with the economy, right now its current price is showing that the economy is not healthy but after every pull back, there is the start of another cycle
With a PE of 4 now and a FWD PE of 3, $UAL is a solid long term...
2024-08-21 12:44:36 +0000 UTC View Post
No changes to the plan here and $BABA continue to target more merchants to their site:
'S&P Global Ratings expects Alibaba Group Holding to boost the terms for merchants on its platform as it recalibrates its China e-commerce strategy, according to a Tuesday release.
The move will help the e-commerce platform further monetize merchant participation especially w...
2024-08-21 12:19:50 +0000 UTC View Post
$DG is historically a recession safe haven, as high inflation and the high cost of goods force consumers to search for cheaper alternatives to stretch their dollar.
We can see that $DG has pulled back to its 0.78 Fib at $115 and found support, which is also at its yellow historial line which has been in place since 2011.
$DG also pay a 2% dividend too
They are below their Covi...
2024-08-21 12:05:54 +0000 UTC View Post
$OXY is sitting in the Buffett Buy Zone which is exactly on the 0.38 Fib which is the standard level for a Wave 4 pull back.
This is showing us how little the market is concerned about what is happening in the middle east
That being said, a 2 year consolidating range is like coiling to move higher
Buffett has given $OXY strict orders to reduce their debt, which is what they ar...
2024-08-21 11:45:49 +0000 UTC View Post
Back up to test the yellow historical trend line which has been in place since 2017
Flipping this back to support will be a bullish sign for me
Especially after holding perfectly on the 0.618 Fib at $226
200 WMA is also at $360 right now, so in terms of technicals, this is undervalued right now
2024-08-21 11:20:41 +0000 UTC View Post
I am very intrigued by $SIRI, mainly because of Buffetts aggressive buying here and their positioning lately, spending $100 million to acquire the leading female podcast this week.
Price is holding at the 0.618 Fib at $3.12, this is a good sign
Price action has also formed a very abrupt descending wedge, which leads me to leave that a bounce will come once there is a break out
$NIO tested the top of the yellow channel this week, where the 50 Day MA was waiting and has so far rejected after a sell off yesterday, moving comfortably in the PM today so there is no lower low yet however, so there may be another attempt at this channel level again and 50 Day MA at $4.30
Bulls need to get above this level and most importantly, hold on the retest, which it was not able...
2024-08-21 11:03:33 +0000 UTC View Post
Undervalued positions do not stay undervalued for long
Eventually the market finds them and buys.
$TGT smashed their earnings with a small blemish that guidance will not be as strong towards the end of the year, regardless, up +14% now in the PM.
I have one buy in here already with an average of $144, so I am happy with the +14% jump this morning and will wait for the pull bac...
2024-08-21 10:58:36 +0000 UTC View Post
The Health sector has been the overall winner over the last month, showed a lot of strength, climbed during the harsh market weakness and continues to move higher along our trajectory.
$XLV formed an ascending triangle after breaking out of its 2 year range under $143 and has now clearly broken out of this triangle now too.
First Target remains at $180 and I do not expect this to c...
2024-08-20 19:51:54 +0000 UTC View Post
The group knows by now that I am bullish on $ABNB long term and I am positioning myself to add again, happy to see some red day and hopefully this can pull back a little further to the white 0.618 Fib again at $115 and hold for support on the retest.
I have added in the smaller fib levels from the recent bounce to show where support aligns too, and we can see that the small 0.5 Fib is exa...
2024-08-20 19:36:56 +0000 UTC View Post
Showing a nice pull back here now too after bouncing strong post earnings
I have also added in the green support fib levels for this pull back as a guide
The 50 Day MA is right at the First Target level at $40, which is also in between the 0.38 - 0.5 Fibs
This will be an area of interest to us to watch for a hold.
2024-08-20 19:32:59 +0000 UTC View Post
$CELH held the large 0.65 Fib on the 200 WMA and bounced, now it is giving a pull back and this is the important part: making a higher low, this is where the Bulls need to step in
I have added in the small green 0.618 Fib at $38.64 for guidance
Price needs to hold at or above this level to show that this is the start of a new impulse wave....losing this level and its back down to it...
2024-08-20 19:22:33 +0000 UTC View PostLet's put things into perspective
YTD Performance:
$SPY : 17%
$QQQ: 17%
$PYPL: 17%
2024-08-20 16:50:13 +0000 UTC View Post
We had a +6% gain yesterday and pulling back a modest -1.8% right now, so I am watching for a hold here
I have added the 0.618 Fib for this pull back today and it has also held on this level, just at its 50 MA on its 1hr chart
So we are getting a higher high and a higher low now, just needs to hold this level now and not make a lower low below $15.50
If $HIMS maintains this ho...
2024-08-20 16:35:10 +0000 UTC View Post
$GOLD Last time I shared this chart was the 19th of November 2023
Price was at $1960
Price today is $2531
+29% gain in 9 months, on the oldest safe haven.
$3000 remains the First Target
2024-08-20 16:18:26 +0000 UTC View Post
Another test of the 50 Day MA today at $61,400, which makes it 5 tests of this level now since the 8th of August
However, $BTC has still been able to make higher lows after each test of the 50 Day MA, so there is a triangle forming here.
This we will need to monitor
The $SPY is within a few percent of its ATH line and $BTC has not made its bullish move yet to challenge its ATH...
2024-08-20 15:58:46 +0000 UTC View Post
Another solid day for $AMD, pushing to $162 and now pulling back to $157 now.
Price is still above the 50 and 200 Day MA at this level.
The blue line is sitting on the higher end of the resistance range which has been in place since the start of 2024, so the green Fib levels are set to consider that we get a pull back from here
I know many people will want to add $AMD if we ge...
2024-08-20 15:54:40 +0000 UTC View Post
$PYPL has finally giving us a strong breakout and a higher high, with a 52 Week high in now too.
Very strong bounce from $59 to $72 now
Because of how long $PYPL has consolidated under $68, I would expected a retest of the $68 level or at the very least the $70 level but $68 for me seems more appropriate
A hold above this level and we have our next buy signal and I will add an...
2024-08-20 15:44:59 +0000 UTC View Post