The Long Investor

$OKTA - RC -

$OKTA was once a popular stock but does not get as much notice lately, the chart remains bullish and although the channel was broken at the end of May, support has been building nicely on the 200 Day MA and has been tested every day for the last week and a half.

Impulse wave remains in tact here with Wave 3 still at the 1.618 Fib at $141.

Bulls want to see the channel flipped back t...

$MRNA

I know a lot of members are watching this and I am too, price is just on the 0.38 Fib at $137 but we can see that the 0.5 Fib and the 50 Day MA has made a confluence level at the same price at $127, so we can not rule out the price action going this low, either level is suitable to hold to complete Wave 4.

What we do not want to see is the price infringe below the top of Wave 1 at $115, t...

$INDA

The Indian exchange has been able to fully recover after its shock drop post earnings and has not pushed higher to higher highs and looks bullish to continue moving up to our Wave 5 target

Price is right in the middle of the channel now, so there is very little in the way of resistance here, so I suspect there will be little in the way of moving higher.

$INDA also appears to be movi...

$ENPH

$ENPH third attempt at the ascending triangle top line at $138 was also met with resistance and has pulled back again to the 50 Day MA for support and has so far held, we want to see this level held and strength built up again before attempting to move back up to the breakout level again at $138.

Traders are probably enjoying this tight movement in this triangle too, as long as the price ...

$DDOG - RC -

$DDOG has recaptured its triangle and 200 Day MA and has now tested the 200 Day MA from above and has so far held.

I think bulls need to see the 50 Day MA flipped to support, which also happens to be our blue support/resistance line at $120, flipping this to support and $DDOG has a good chance to attempt breaking out of this triangle to the upside and moving up to our Wave 3 target at $16...

$COIN

$COIN unfortunately has not be following the mining stocks but for me is heavily linked with $BTC's movement, which does not need to be a bad thing, meaning if $BTC completes its ABC correction, so will $COIN and they'll both move up higher together next, some people prefer to buy $COIN over $BTC as it has fundamentals you can measure, either way, both are good options once they pull back furth...

$CLSK - RC -

$CLSK and a number of Crypto companies appear to be holding stronger than $BTC and other cryptos so they may be front running them. $CLSK had a strong day yesterday, up +8% after bouncing again on the channel bottom line which has been a formidable support line since March, I think if $CLSK can keep in this channel until $BTC reverses to the upside, it will move up to our Wave 5 Target as shown...

$MA - WATCHLIST -

Mastercard is back to its 200 Day MA now and the 50 Day MA is about to squeeze the price action in between both of these moving averages, this could set up $MA nicely for a breakout to the upside and continue moving higher to complete our Wave 3, at the 1.618 Fib at $603....this would be a +30% gain from here, although it would likely take over 12 months to complete.

However, its slow and...

$TGT - WATCHLIST -

I am tempted to add $TGT to the Safe Haven list, as I believe $TGT will benefit if a recession is triggered and customers decide to stretch their dollar further.

FWD PE sits at 13 now and margins remain healthy here, in spite of the strong climb from $102 to $182 and back down to $144 again.

Price is still holding at the confluence level on the 0.5 Fib and 200 Day MA at $142.

...

$DKNG

Our Wave C worked a dream here in this Head and Shoulders pattern, leading right up to the start of the Euro 2024 event, which is a massive event in Europe and football fans throughout the world, maye not in the US but it is still the most popular sport in the world.

Price has jumped on the 0.38 Fib and now above its 200 Day MA and testing the 50 Day MA now from below.

A flip of sup...

$PLTR TOP 20

$24 has been the level we have been waiting for and we have a nice breakout here now with the price at $24.50.

What we want to see is the price comfortably holding above this level now, with a clear retest of this level to confirm that it is a new support.

This would also encourage us to buy again to catch the next wave higher.

Wave 3 target remains at the 1.618 Fib at $41. 2024-06-17 16:33:16 +0000 UTC View Post

$ASTS

If you are in this monster, be mindful of this strong confluence level at the First Target at $12.20 or even slightly before this level.

It is a resistance line since the middle of 2021 and our First Target too

I have added in the White Fib levels if this does indicate the start of a pull back.

This has run now from $2 to $10 in 1 month, incredible.

$PFE - WATCHLIST -

$PFE has pulled back to the sweet spot now, between the 0.5 Fib and the 0.618 Fib, I said before that I would be reluctant to add the impulse wave here until after the price holds above the 200 Day MA.....but a hold above the $26.95 level would be a very good start.

I like $PFE as it is the leader in this sector and has a 6.1% dividend payment, also has a FWD PE of 9.

So buying here...

$HOOD - PERFECT IMPULSE WAVE - LESSON

$HOOD has given us the perfect impulse wave.

• Wave 2 held between the 0.5 - 0.618 Fib

• Wave 3 was the longest impulse wave

• Wave 4 held the 0.38 Fib and

• Wave 5 ran to between the 2 Fib and 2.618 Fib levels

  This is as perfect as they come and a very good example of EWT to learn from.

Now what we want to see is the per...

$AFRM

$AFRM has now given back all of its gains since their partnership was announced with $AAPL, which should have been a very strong catalyst for $AFRM but on the retest of the channel breakout, the price fell back down with very little support and below the 50 and 200 Day MA.

We can see this same weakness with $PYPL, $SOFI and $SQ.....which suggests to me this is a sector issue and not parti...

$NTLA - RC -

$NTLA looks like a very typical Cathie Wood stock and $ARK continue to add to this stock as it drifts lower and lower, kept down by its 200 Day MA for the last 2 years.

This is not a buy for me while it it still descending here, I would need to see a firm breakout and strong retest and confirmation of support outside of this wedge before considering a position.

Targets are as shown ...

$CART - RC -

$CART has only been on the exchange since October '23 so it the structure is still only finding its feet and its ranges so I have just added a short term formation here and so far it is evident that a Bull Flag has formed between important pull back Fib levels, so a drift down can continue in this flag but a breakout and hold at any stage above this flag and we can expect a move back up to the ...

$ZBRA - RC -

Inverse Head & Shoulders pattern forming here now if we can get a pull back to the 200 Day MA to complete the right shoulder, also a retest of this level would confirm enough pull back before going higher, giving us a higher low too and indicating that the 200 Day MA is a support level.

Fundamentals are not there for me to add an impulse wave right now but a break above the blue line ...

$TMDX - RC -

$TMDX has been moving incredibly well and we have this in Wave 3 now and set to continue moving higher to the 1.618 Fib at $181, Wave 4 should come next to $125 before moving higher next to complete Wave 5 at $216.

Margins are fantastic here but FWD PE is high, so I suspect the market feels like the margins will continue to remain high and the FWD PE will look after itself and reduce over...

$TSM

Up strong +3.3% again in the PM now and looks like making it to the 2 Fib at $186 will be no issue.

I have added the upper limit of a standard Wave 5, which is the 2.618 Fib and this would bring $TSM up to $218 and it is the very least that it deserves

Fundamentals and margins are still strong and not overvalued and $NVDA does not work without them.

Remember $TSM is smack in t...

$SQ - RC -

This is getting a little bit messy for $SQ now and appears to be having the same weakness as both $PYPL and $SOFI now.

I have to admit that since I am in $PYPL already and if I had to pick between $SQ and $SOFI to add a new position, I would go with $SQ

Their strong climb in November was heavily contributed by the aggressive climb of $BTC and I believe that when $BTC reverses and st...

$LULU

Clean rejection at the 0.38 Fib at $337, which was also the 50 Day MA and we can see that it was met with a harsh decline.

The Fib levels have not changed here so the next level to watch for support is on the 0.5 Fib at $281, very similar set up to the $CELH chart we just uploaded.

Next level to watch for is the yellow historical support line at $270, followed by $253, which was the...

$CELH

$CELH continues to sink and has cleanly lost its 0.38 Fib which would have been a shallow ABC correction if the price held at this level.

Now we look to the 0.5 Fib to see if support can be found at $50.50.

This would be an ideal level to find support and complete Wave C.

We can also see that the RSI is deep into the oversold territory, so if the price makes it to the 0.5 Fib,...

HSI

There was a flush down at the open but was recovered immediately and the 0.5 Fib at 17,876 maintained to finish the day above this level and the performance finished flat for the day at -0.03%.

Chinese ADRs on the US exchanges are green and healthy in the PM now, so let's see how they perform today and if they can carry some momentum towards the HSI going into tomorrows session.

No ...

$NIO TOP 20

$NIO continues to search for support and below the 0.618 at $4.54 means there is weakness showing on this pull back.

I have added all of the available Fib levels for us to watch and the impulse wave can remain valid as long as a new low is not made below $3.60.

As it says in red, losing the previous low and the nuclear option of going to $2.35 is on the table.

We want the bull...

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$QQQ TOP 20

The $QQQ is now storming ahead of the $SPY as both $AAPL, $MSFT and $NVDA, the three biggest companies in the market battle it out as the top company in the market in terms of market valuation.

Since Nov '23, where we insisted that the pull back was only Primary Wave 4, the $QQQ has now jumped from $340 to $479....an enormous jump, massive melt up and this final stage of Wave 5 is now goi...

$SPY TOP 20

The general consensus across Wall Street is that the $SPY can run to $550 - $560 in 2024 and I think that is a fair assessment, there is no analyst saying that $600+ is on the cards, I think even an aggressive melt up could not push valuations this high.

I think a more logic response would see Mega Caps topping out before earnings and some rotation into small stocks before a correction ta...

$TSLA TOP 20

$TSLA holders should be happy to see that Elon would his bonus package this week because Elon and $TSLA are the same thing, you want him fully invested with A LOT of skin in the game, if he focuses more and more on $TSLA instead of X, shareholders will be rewarded

The market appeared to think the same too when the announcement came out that he was awarded his package this week.

Pric...

$SHOP TOP 20

$SHOP along with $HIMS have been the $AAPL in our eye lately and entering our Top 20 list at the exact right time and our buys have been great here.

I intend to continue adding to $SHOP but only when the Subwave 2 pull back comes in as expected now.

So I suspect that the 200 Day MA here at $68.75 will offer some resistance and rejecting here and pulling back to the white fib levels ...