The Long Investor

$AMZN TOP 20

I think a lot of people are waiting for $AMZN to break above this $191.70 ATH level before entering, $GOOG has pushed higher today and the Mega Caps remain in a healthy position, $AMZN's fundamentals are getting stronger too, so I see no reason why it can not break above this level after testing it a number of times now.

I added $AMZN at $185 a couple of days ago and it is my Mega Cap of...

$BTC TOP 20

$BTC interesting place for $BTC to find support yesterday, right on the last green Fib level at 0.887, just slightly above the 200 Day MA.

So the bulls managed to save this in the nick of time before it was a full blown deceleration to the Wave C target at $51k.

This is not over just yet, this is only the first test of this level and there will likely be another test of the 0.78 Fib...

$CHWY

Last time I uploaded this was on the 11th of Jan '24 and the price was at $20, the price declined further and retested the $16 level again for a number of month and finally took off after their positive earnings report in May.

My Wave C target has not changed at $52 but do not expect this to happen at the end of the year, an impulse climb up is all we need to see here.

50 Day MA is ...

$CELH

We were skeptical of the $CELH bounce a few days ago and we can see that the price action rejected so far trying to get back above the 0.38 Fib at $62.

In spite of BNP giving a PT of $87 yesterday too.

Truist Securities alerted today that they have initiated a Hold at $60.....so mixed reports here.

There are no changes to the chart here and we maintain that we will likely see ...

$TLT - SAFE HAVEN -

$TLT continues to look very strong here.

• Held support in its pull back between the 0.618 Fib and 0.78 Fib in April (higher low)

• Back above the blue support line at $91

• Above both the 50 and 200 Day MA

• Moving higher in a positive impulse count, in Wave 3.

• Forming a small bullish wedge over the last week

• Wave...

  2024-06-25 11:26:38 +0000 UTC View Post

$ONON - WATCHLIST -

Ok it's time to put $ONON on your watchlist, as the pull back is moving right into the potential support level, where we can see that the 0.38 Fib and the 50 Day MA align at the exact level at $37.24, which would be perfect to complete Wave 4.

$ONON should also benefit from the Olympics next month a summer of sporting events.

We made over 30% profit on this in March when it sank pos...

$PAYO - WATCHLIST -

Getting a standard pull back here to the confluence level between the 0.38 Fib and the 0.5 Fib, where the 200 Day MA cuts through these levels.

The lowest level this pull back should come down to in order to keep this bullish move alive is the 0.618 Fib at $4.96, which is on the wedge breakout level too.

A hold on the outside of the this wedge puts $PAYO in a good position leading u...

US OIL

This is why we believe Buffett has been adding $OXY aggressively lately as he anticipates an increase in the price of OIL for the next 12 months.

Price has bounce from $71 to $81 since the 4th of June, this is a large jump over 3 weeks and back above the 50 and 200 Day MA.

Next big test will be breaking out of this wedge, which has been in place since the start of 2022.

Holdin...

HSI

Ended a 3 day red streak today by finishing in the green and at one stage up +1%.

Price action is still staying between the 0.38 Fib and the 0.5 Fib in this confluence range, with the 50 Day MA cutting through the centre.

We have a higher low so far but need a higher high next to confirm the trend is reversing to the upside, a break above 18518 would confirm this.

Chinese ...

$AFRM - WATCHLIST -

Up +13.7% now as of writing this after Goldman gave an increased PT of $42 today.

Price is now back above the 200 Day MA at $34, the MA sits at $32.81 at the 0.5 Fib, flipping this level to support is a bullish confirmation and reaffirms our Wave 5 target of $60 here.

$AFRM conveniently took over Goldmans job with $AAPL to underwrite loans and BNPL payments, something that Goldman w...

$SOFI

+3.5% Jump today as the bulls and bears fight it out on the red line, which was a support line from Nov '23.

We can see that the apex of the tightening wedge aligns perfecting with the expected earnings day at the end of July.

Bulls may feel that under $6.40 this is a bargain and are buying regardless of what happens.

I would prefer to wait and see how this drift down behaves,...

$CCL - DUE TO REPORT TOMORROW MORING -

Earnings report is due before the market opens tomorrow and the volume is up today.

Price is above the 50 and 200 Day MA and into a tightening wedge here as this leads into earnings, I suspect a strong move will come but they need a positive report with no concerns.

Our impulse wave has not changed here, once the price can break out of the wedge at $17 and hold above this level, thi...

$NVDA

Another difficult day for $NVDA, back to $120 today, erasing all gains made over the last 20 days and back below its stock split price now.

Price was unable to hold the first test on the 20 Day MA and when this level was lost, there was a harsh decline of -2% during the day.

Next test will be the 0.236 Fib at $108 and the 50 Day MA will likely meet the price action at this level too...

$HIMS - Alternative Impulse Wave

My brain has been rattled with this $HIMS chart, I have highlighted an area on this chart with a white circle, this is the area that has given me concern, which is Wave 4 on our previous chart, the normal chart we use for $HIMS......I have highlighted this area before that it was been fast and a lot shorter than Wave 2....this is allowed but it is still possible that it is only a small subwave ...

$NIO TOP 20

$NIO is moving well with a lot of Chinese ADRs today and up +3% right now.

HSI finished the day exactly flat too which is ok with me since it continues to hold support, market seems happy about it too.

$BABA pulled back to its 0.78 Fib and held and now bouncing, this is what we are seeing with $NIO now too.......now it needs to continue to hold and start showing strength.

$TSL...

$DAL

$DAL is moving very well here and is about to test its 50 Day MA after holding support very well above the 0.38 Fib for Wave 4.

We can see that there was a large flush down on the 14th of June and recovered on the same day, which is typical of a local bottom.....and since it went so close to 0.38 Fib, we are very close to confirming that Wave 4 is now in, once the price holds above the 50...

$URBN - WATCHLIST -

Also bringing this back to your attention here because we have a stock where the fundamentals and techinicals align here and are both showing undervalued with a lot of upside here.

The fundamentals are simply flawless.

And I have WAVE 5 going as high as $77.

Price is above the 50 and 200 Day MA and moving well up to our first target at $51.

Let's not forget how powerful ...

$MSTR - RC -

$MSTR is not immune from this crypto decline either and has lost its 50 Day MA in the PM now.

This is also setting up nicely as an ABC count with the price action in Wave C now too, like $BTC and $COIN.

If $BTC continues its pull back it is almost certain that $MSTR will do the same.

The 200 Day MA looks attractive here, considering this was at $2000 only in March.

$IBM - WATCHLIST -

$IBM is getting that support for Wave 4 on the 0.38 Fib at $167 and is very close in the PM now to making a higher high.

Support was found on the confluence level between the 200 Day MA and the 0.38 Fib which is always good to see.

Wave 5 is at the 2 Fib at $234, so a continuation today to the upside would help encourage more buyers here.

$ETSY - RC -

$ETSY has not been able to hold above its blue support line and has been drifting down under the 50 and 200 Day MA since losing the blue line at the end of April.

Wedge has formed now too and it is getting tight.

Since the price is below these MA's the bears are in control for now, a break down and the targets are horrific, a breakout to the upside and the targets are as shown.

$BTI - POSSIBLE SAFE HAVEN -

Bringing this back to your attention because of the simple fact it has a dividend of 9.25% and there are early signs of a reversal here.

Yes it is a tobacco company and it sells cancer for a living but the market does not care about this, they will buy value if they believe it is on sale.

The 50 and 200 Day MA's have been converted to support now and it looks like we will get a gold...

$ASTS

The confluence level at the First target at $12.20 did its job and the moment the price action hit this level, the selling pressure started to build up and since then, the price has dropped -20%.

I think this is more than reasonable considering the climb from $2 to $12 in the space of 1 month, which is as parabolic as you'll get.

This chart has not changed and the white fib levels r...

$ETH

Crypto is showing a lot of weakness to start the week, led by $BTC and all crypto related positions are feeling this impact.

$ETH has lost its 200 Day MA just above the 0.5 Fib but has since found support on the 0.618 Fib at $3260.

Any time the 0.618 Fib is lost on a Subwave 2 pull back, which is what we believe this is of Wave 5, weakness is shown.

That being said, the 200 D...

SILVER

Silver is still holding above the 50 Day MA now and the 0.5 Fib above $29 but having some trouble breaking out of this bull flag and converting the $30 level to support.

We will see how the price handles the 50 Day MA on the retest at $29 first.

Otherwise I have added in the 3 amber Fib levels in case this pull back is part of a larger pull back since the bounce from $20 in October ...

$QQQ TOP 20

$QQQ is sitting between two Fib levels now, unlike the $SPY chart which rejected at the $550 level this week.

$AAPL and $NVDA had notable pull backs this week but this is not represented very well on the $QQQ chart which leads up to believe that the money was still kept in the Tech sector and rotated nicely.

Like I said on the $SPY chart, the price action here is also quite above it...

$SPY TOP 20

$SPY rejected at the 1.27 Fib to end the week, likely brought on by the pull back from $NVDA after an enormous run post earnings and stock split and $AAPL pulling back too.

Mega Caps are generally still looking quite healthy and we may see some rotation out of $AAPL and $NVDA into the other Mega Caps this week, which is what we want to see for $AMZN and a move into the lowed tiered Semi c...

$TSLA TOP 20

$TSLA has given a nice consolidation above the 0.5 Fib and the 50 Day MA, which we love to see because it is a strong confluence level and has now started to drift higher but has not made a higher high next to confirm that this is moving in an impulse manner and can break above the 200 Day MA at $207.

Bulls should feel happy though with the hold of support and how this is setting up, I am...

$SHOP TOP 20

$SHOP found some support on the 0.38 Fib at $63 which is a typical level for a subwave A to complete and bounce for subwave B before moving lower to complete subwave C.

We can see that into the close the price action was testing the 50 Day MA from below too, so we will need to see if this is acting as a resistance level, I would like this to come down to the 0.5 Fib at least at $62 and I ...

$SE TOP 20

Just perfect.

$PYPL TOP 20

The 0.5 Fib was recaptured to end the week but we know here that we need to see more strength from $PYPL after losing the important 200 Day MA at $61.

Right now, all we have is a retest of the 200 Day MA from below which is not necessarily a good sign, if it rejects here then it is going a lot lower and likely into the buy zone.

We know that $PYPL, $SOFI, $SQ and $AFRM are all under...