The Long Investor

$INTC TOP 20

$INTC continues to get no love since its disappointing earnings report last week, however the bleeding has slowed down and like $DIS, it is also at its last Fib support level at 0.887 at $18.

Price is deep into the Buy Zone now and as always, when the Buy Zone comes, very little want to buy in here, this is common across every group and every stock.

Price is back to its 2013 level a...

$GOOG TOP 20

$GOOG is being very well behaved here, I can already see 5 perfect waves down in this Wave A, with the price holding above the 200 Day MA and the blue support line, so there is every reason to believe that Wave A is now complete

Another retest of the blue line or 200 Day MA can not be ruled out either

So I would not be surprised to see a bounce from here shortly fo Wave B, which sho...

$DIS TOP 20

I am reading Bob Igers book right now, the CEO of Disney and it is hard not to be bullish on $DIS long term when you read his history and character.

The fact remains, the price is back to its 0.887 Fib, the last Fib support before the Covid Low is tested.

We know what happened at $78 in late 2023 when this level was tested, an Inverse Head and Shoulders pattern formed and the price ...

$BTC TOP 20

No changes to the chart I uploaded a few days ago, the $62k level, where the 50 and 200 Day MA is at now too has been a resistance level so far and has been tested 4 times now, so over 4 days here on the daily chart.

I have added in the green fibs to see where a pull back for a higher low can come in next if it can not break above this $62k level.

Failure to hold at these green Fib ...

$ABNB TOP 20

$ABNB has its earnings this week and the concern we had leading into this report was their guidance for Q3 and it did report a lower guidance and the share price sank.

Right down to the 0.618 Fib at $115, which it is holding at now but it is struggling a bit.

Losing this level and the next test is at the 0.78 Fib at the convenient round number of $100.

A break down to $100 and...

$AMD TOP 20

$AMD has tested the 0.618 Fib this week and has so far bounced and working on testing a higher low next now.

The risk here is that the pull back can have no issue coming back down to $120 again and if it is not held, then the next Fib is at $91.

But a higher low next above $120 and we could be looking at Wave C being complete.

The longer time frame has been uploaded here a num...

$AMZN TOP 20

We entered $AMZN at $160 this week and so far it has bounced, we have been watching this closely as the price drifts up to its 200 Day MA at $169.

This will be an important level to test, a break and hold above and we can confirm that Wave A is complete and we are in Wave B, a rejection at $169 and Wave A still has one more leg down, back to $155 at least.

Whatever happens, $141 on ...

$AAPL TOP 20

We uploaded the Top 20 charts a number of times this week so we should be up to date on a lot of the movements so this evening will be a recap of this.

$AAPL dipped below its blue line on Monday with the sell off and came within touching distance of its 0.38 Fib, which is a standard level for Wave A to complete.

It has so far bounced and just finished the week at its 50 Day MA, we w...

$ETH

Reasons why I bought $ETH today:

On the weekly chart

• Price has pulled back to the 0.78 Fib and held

• Which was also the ascending triangle breakout level at $2100 from October 2023

• And also the 200 Weekly MA too

• Making this a strong confluence level

• Price is also back above the 0.618 Fib now at $2510

• ...

  2024-08-10 16:39:07 +0000 UTC View Post

LESSON - FIBONACCI LEVELS AND ELLIOTT WAVE

• Wave 1 sets the first level

• Wave 2, pulls back in 3 waves and aims for the 0.618 Fib

• Wave 3 target uses the height of Wave 1, the low of Wave 2 and the extended Fib of 1.618 to find Wave 3

• Wave 4, pulls back in 3 waves and aims for the 0.38 Fib, of the total length of Wave 3.

• Wave 5, can usually be the length of Wave 1 but can ...

  2024-08-10 13:33:45 +0000 UTC View Post

READING RECOMMENDATION

Poor Charlie’s Almanack

Really insightful look into how Charlie thought and how he picked stocks

How he managed patience and executed with high conviction

It’s a beautiful read too, highly recommend reading for all Long Term Investors

$CELH

Holding now at the confluence level above the 200 WMA and the 0.618 fib at $38.

if $CELH can bounce from here then we can say that Wave C is complete and there is a reversal on here.

I would like to see some consolidation first and a series of higher highs and higher lows next to show that there is strength and this will encourage buyers back in again.

In terms of R v R, rewar...

HSI

HSI finished the week +1% today after holding on green historical support line and its 0.618 Fib and has since bounced.

We do not have a higher high or higher low next so this is what we will be looking for next week

Converting the 0.5 Fib to support at 17.250 and the price is above the 200 Day MA too and this important Fib level.

This will be progress, just the 50 Day MA to c...

US OIL

Price pulled back to the wedge trend line support this month and has so far held

I suspect the oil market is weighing up the influences of the economy on production, the conflict in the middle east or whether a Trump or Harris presidency is bullish or bearish for Oil.

$SG

Reported their earnings yesterday after the close and the price is up +24% in the PM now

No changes to the chart since the last upload and we have Wave 5 completing at the blue line at $39.95, this looks set to hit over the next few weeks.

Great looking chart

$CMG

Chart continues to go to plan here and Wave A is looking complete to me here too.

Flushing down below the 200 Day MA this week and now regaining this level now after yesterdays bounce, there is no changes to this chart and this is where we had Wave A completing.

A bounce now for Wave B will likely be followed by a decline for Wave C next.

$BIDU

Happy to see a bounce of +5.5% here yesterday and managed to hold support above the wedge support line after losing it for a brief spell during the market flush down at the start of the week.

$BIDU has been moving in strong waves up and down, so I would like to see a strong response now back to the upside.

It is important for $BIDU to convert the blue line back to support at $94. 2024-08-09 12:09:23 +0000 UTC View Post

$HIMS

I think there is a move coming for $HIMS, RSI is now below 30, last time this happened was in Mid April and the price was between $11 - $12, we also added aggressively here and the price jumped to $25.

$HIMS, SILVER and $AMD are top of my list to add now this week.

We do not have a reversal here yet, we just have a flush down and an oversold RSI

As always, waiting for support ...

$PLTR TOP 20

$PLTR is back at the $29.30 level again, after an astonishing week.

Great to see $PLTR and $SHOP perform so well this week after great earnings, two big holdings for us and $AMZN showing a recovery and bouncing from our $160 Buy.

We know that the $29.30 is an important level to flip to support, it has been a resistance level since 2021.

I would like to see a pull back to the 5...

SILVER - SAFE HAVEN -

I highlighted this during the week to show that we are close to the 200 Day MA which has just gone above the 0.618 Fib at $26 now, price managed to dip to as low as $26.45 this week and recovering well....I highlighted during the week that the RSI was exactly at 30, which is usually met with a bounce, we have so far got a bounce.....but I want to see a series of higher highs and higher lows her...

$TMF - SAFE HAVEN -

Very nice pull back towards the 200 Day MA here yesterday, giving people an opportunity to add and up +2.5% in the PM now.

Remember you are very early here.

Wave 5 I have completing at $102, price is now at $55.....although it is a leveraged $TLT ETF.

$TMF staying above its 200 Day MA should be on everyones radar.

$BABA TOP 20

So big picture here, as we'll be discussing $BABA again on Sunday:

• Large Wedge breakout in April

• Followed by a second wedge in August

• Followed by a second wedge breakout in August

• Making higher lows since the low in Jan '24

• Above the 50 and 200 Day MA now

• Above the red resistance line

• Making...

  2024-08-09 11:44:41 +0000 UTC View Post

$AAPL TOP 20

$AAPL bounced off its blue support line at $200, which was the previous ATH line and went as high as its 50 Day MA and stopped out here yesterday, we are seeing some resistance now at this level in the PM.

If $AAPL rejects here, it will shine more clarity on the direction of the market and the $QQQ, that being said, the price action did flush down to the 0.38 Fib on Monday, and this is wh...

$QQQ TOP 20

Market enjoyed a well need relief after what has been a rollercoaster week.

On the chart, we can clearly see a decline down to the 200 Day MA and now a bounce, a higher high has not been made yet but if the price can bounce above $449.50 then we have a higher high here.

It is still too early to say that Wave A is complete for the $QQQ but there are early signs that it is, if it is t...

$ASTS

Second target hit and finished the day at this level yesterday, this truly has been an outstanding run for $ASTS, showing how a long wedge of 3 years, can finally break out with enormous power and recapture almost all of the declines in 3 months, that it lost in 3 years.

The last target I would give this is the blue line at $25.45 which was the 2021 high, I can not see how this does not p...

$SOFI

$SOFI is still stuck in this descending wedge, below its 50 and 200 Day MA now and testing the bottom line of the wedge this week.

Earnings has past with little or no effect on the share price, in spite of it being a double beat and EPS beating by 111%.

Holders will need to wait longer and hopefully bulls can save this from dropping out of the wedge to the downside.

$TSM

Big fan of $TSM and the chart has been beautiful to us for the last 18 months and we called every wave of this in the impulse wave correctly.

Now I believe this is firmly in its ABC correction.

Wave A looks complete to me, after falling below its 0.38 Fib and holding support on its 200 Day MA.

I believe Wave B can drift higher to its 50 Day MA, where I would expect some resist...

$SQ

Another company holding on its 0.618 Fib level and so far showing early signs of support.

Price bounced on the blue line too at $55, which has been a support line since the middle of 2022.

A lot of charts are in this position right now, waiting for a relief bounce or signs of a reversal, especially those that have completed their ABC count, which is usually on the the 0.618 Fib.

$CELH

$CELH is getting hit in the PM now after BofA has cut them to underperform with a PT of $32.

On the weekly chart we can see that the 200 MA is at $35, so there is a possibility of support here....but losing this level and the next support line is at the 0.78 Fib at $22.

PE and FWD PE are still high right now but their growth is expected to be strong.

I think this was a harsh c...

$TLT - SAFE HAVEN

$TLT has let off some steam over the last 2 sessions after bursting out of its wedge when the US 10 Year started to drop.

Wave 3 I believe is complete now after rejecting at the yellow resistance line and we are seeing a pull back for Wave 4 now.

Right at the 0.38 Fib it has bounced but this would be a fast Wave 4 if compete, so I suspect Wave 4 is not complete just yet.

Wave ...