The Long Investor

$CLSK

Catalyst on Thursday caused a large flush down in AH as the concern is that there was a public offering but my understanding is that this was already alerted to the market before, so this is not new information and this unnecessary decline may be seen as an opportunity

The price has pulled back to a strong confluence level at the 0.618 Fib, the 200 MA on the 1hr chart and the triangle br...

$COIN

No changes to the $COIN chart, I can see 5 clear impulse waves now and the price action is testing the 2.618 Fib today and the 20 Day MA at $249.

This is the normal upper limit of a Wave 5.

If $BTC can run higher, it will likely drag this up with it but right now, there seems to be a standoff on whether bulls are willing to buy more leading up to the halving event and take this risk...

US 10 YEAR

The US 10 Year bouncing 2.8% aggressively on the 50 Day MA is likely the cause of $PYPL, $SOFI and $SQ being red today.

PCE figures on Friday and Manufacturing data points today has caused the Treasury Yields to jump.

It is difficult for the above 3 to be bullish when this happens and this is something we have spoken about a lot over the last 6 months.

What we want to see is t...

$RDDT

I have been intrigued with $RDDT since it IPO'd and we caught the breakout on the 25th which went parabolic.

The price action has come right back down to the low now and has since found support....watching for some sideways movement next gere above $45....if the price can continue holding this level, there may be another move to the upside again next in an ABC count, initially back to the...

$NIO TOP 20

$NIO March delivery numbers and the Q1 update came out today and $NIO hit their re-estimate target of 30k deliveries for the the quarter. I think this news have been baked in at this stage and probably why we got the decline over the last 10 days.

Green today but very much in the middle of this red wedge and staying below the 20 and 50 MA on the 1hr chart, so we are not seeing a change to...

$PYPL TOP 20

Mixed day today and $PYPL is getting a small pull back, so I have added in the small subwaves that I see here to add context on the structure.

We are likely looking at a small subwave 4 pull back here to the 0.38 Fib at $64.30 if the price action is not ready to breakout above $68.20 just yet.

This will also give the 50 Day MA time to move up to the price action too to offer a solid...

$BIDU

No changes to the chart or targets here but worth looking at this again as we are seeing signs of a reversal, as the price has held on the 0.618 Fib at $102.

What we want to see next is a higher high above $111 to further confirm that a reversal is on here.

I have started a position here already and I am bullish here since the wedge breakout.

So those wondering if they should ...

$OXY

$OXY has got the continuation today and we have added in the subwaves now, Wave 3 is set at the 1.618 Fib at $66.42....we always set Wave 3 at the 1.618 Fib, so our Wave 4 aligns with another retest of the wedge again on the 1 Fib....for those who feel they have missed out.

We cannot guarantee that $OXY will retest the wedge again as Subwave 3 can run here depending on the price of oil. 2024-04-01 16:45:24 +0000 UTC View Post

$YINN

Manufacturing numbers from China came out better than expected over the weekend which accounts for the positive reaction in Chinese ADR's today and the HSI.

$YINN is also up nearly 4% in the PM now too and moving very well in this bullish structure right now.

Cup and Handle formation has been made perfectly and the price is above the 20 and 50 Day MA.

Bulls will want to see a ...

$ONON

I am still holding my $ONON stock as the structure continues to move in strengths and I am watching for a breakout higher to make a higher high next above $36.14 and the August high at $37.08.

A break above these levels confirms Wave 3 for me and I expect a move up to the 1.618 Fib at $39.91.

Price is still above all important moving averages on the daily and the 1hr charts.

$DAL

$DAL is up another 1.5% in the PM now and the price has moved right up to the wedge trend line at $48.65 which is also at the 1 Fib too, this is a resistance level we want to break through, as it has been in place since Jan 2021.

We are up nearly 20% since the retest of the ascending triangle breakout at $42 that gave us our buy signal to add.

If $DAL can break out at $49 and hold, ...

$ETH - WATCHLIST - BREAKOUT TEST SHORTLY

We can not ask for much more than this from $ETH right now, the bullish set up is there and we are waiting for the breakout now.

Primary Wave 4 held the 0.38 Fib at $3111 perfectly and bounced.

Subwave 2 of Wave 5 held the 0.618 Fib perfectly.

And since then, the pull back has held the 20, 50 and 200 MA on the 1hr chart and on the 0.5 Fib.....making it a strong confluence leve...

Peter Lynch

Peter took advantage of these pull backs and added with conviction.

Let’s always focus on Long Term and look forward to buying when our favourite stocks become undervalued and complete Wave C

$SPY TOP 20

$SPY rotation continues here, capital continues to stay in the market but moving between overvalued to more valued positions.

This entire Wave 5 has been fast and extreme with very weak pull backs, doing the very minimum in terms of pulling back, showing just how aggressive this rise has been since the 1st of November '23.....and very typical of Wave 5, which attracts the latest chasers r...

$QQQ TOP 20

$QQQ is still caught at the 1 Fib here at $444 but still in a position where it can drift up and stay within this yellow channel, not seeing any confirmed signs of a rejection or reversal to the downside just yet......(so continue to have $SQQQ on watch for now)

The 50 Day MA is just below the yellow channel too, so we would need to see this lost and rejected below to confirm that a corre...

$INTC TOP 20

$INTC like $AMD and $TSM are looking ready for another leg up as we have projected for some time now.

$INTC and $AMD especially showed their teeth this week and both held their crucial support levels after a confusing catalyst threatened to invalidate their impulse count.

As long as $INTC holds its $42 level for support, which it has done 4 times now, then the price action can move ...

$F TOP 20

$F made a big statement this week and showed why this legacy carrier is a formiddle force.

While the majority of the EV sector struggles, this is pushing higher and turning bullish.

The price also managed to stay above the bullish channel to end the week at $13....in addition, I highlighted this on Thursday too, there is a golden cross here too, which further confirms the bullish th...

$DIS TOP 20

$DIS broke out of its ascending wedge to the upside and has gone above the 2.27 Fib and making its way to the next Fib level at 2.618 at $125.

The 2.618 Fib is the upper limit of the Wave 5 range before it reaches extended territory, so anything above this level is a red flag for me....in terms of people chase here.

$DIS has recovered extremely well since $78 but it is not growing a...

$NKE TOP 20

$NKE is battling to hold onto the 0.887 Fib at $92 which is the last line of defence before a retest of the previous low at $88.

If $88 is lost then the Buy Zone is in a strong position next below $82 and I won't be ignoring $NKE in the buy zone.

We can also see that the price action retested the yellow historical support line from below and has failed so far on the retest.

Th...

$COST TOP 20

$COST continues to follow our corrective wave here and I will be watching next to see how it handles the 50 Day MA at $723 on the retest.

A failure to hold this level reaffirms my corrective count for me and a move down to $641 is my expected Wave A level.

$TSLA TOP 20

Be in no doubt that $TSLA's pull back from $414 to where it is now is nothing more than a Primary Wave 2 pull back and look at where the 0.618 Fib and 0.78 Fib levels are right now.

The 0.618 Fib is at $165 which has been a support level in March and if $165 is lost, Wave C can still hold the 0.78 Fib at $97 for Primary Wave 2 and can still be a valid Wave 2.

What hurts most for $TS...

$AMD TOP 20

$AMD showed this week that it is a serious contender in this sector and in spite of being down -4% at the opening on Monday, it recovered all losses and finished the week green and just at the 50 Day MA.

Importantly, it managed to hold the 0.38 Fib all week at $176 too.

I think $AMD is in a strong position now to get a relief bounce this week, as is $TSM and $INTC, as $INTC also hel...

$MSFT TOP 20

Last week I said that we needed to see how $MSFT handles the retest of the 2.618 Fib at $421, that if it could hold this level then it could potentially go as high as $458.

But what we saw was a retest and failure to hold the level and the price just finished below at $420 to end the week.

This is not confirmation that the $421 level is lost right now but it has failed the first ret...

$GOOG TOP 20

Continues to be an interesting one to observe for me.

As the bounce on the 200 Day MA has been very aggressive but starting to run out of steam as it approaches the blue line again.

The RSI is also approaching the 70 mark too.....which does not mean that $155 will not be broken but it does mean that there is little room to go very extended above this level right now.

I also ca...

$BTC TOP 20

There has been very little movement from $BTC and $ETH this weekend, in spite of this long weekend. $BTC continues to test the $69k level all weekend too which should not come as a surprises to us....a rejection of this level and we have Wave A confirmed....a hold of support above this level and $BTC can go higher to $82k to the 3.618 Fib.

I am leaning towards this being in its corrective...

$AAPL TOP 20

$AAPL and $TSLA are the clear Mega Caps in a corrective wave now and $AAPL struggles to find a relief bounce for Wave B still....that being said, it is holding the 0.38 Fib very well and has tested this multiple times now and also finished the week on this line.

Very little to update from last weekends upload but again I'll say that this descending wedge is similar to the Wave 4 wedge, so...

$PYPL TOP 20

Very simple plan here now for $PYPL

All we need to see is a break above $68.21, which is the previous high and we have a higher high and this could trigger the market to buy hard.

We finished the week at $67 and above the blue line, with a number of retests at the line during the week.

We also got the Golden Cross this week too.

Only variable is how the 10 YR behaves at ...

$BABA TOP 20

$BABA has now found support on our blue line 7 times since November as it continues to wait for the HSI to make its move but in the meantime, it is just drifting across this wedge in a very tight range between $77 - $71.

Earnings are not expected until the end of May too, so this drift sideways will continue until the HSI moves I believe.

That being said, when it reaches the wedge t...

$PLTR TOP 20

$PLTR is getting a lot of attention right now because of how neat this Head and Shoulders pattern has formed, something we highlighted this 10 days ago on X but we had subwave 5 completing at $27 at the start of March.....another example of how powerful EWT is and their respect to Fib levels.

The price action finished the week on the 0.38 Fib at $23 and we can see that the 50 Day MA is ju...

$AMZN TOP 20

$AMZN has been pushing hard to reach $188 and even managed the $181 level this week and continues to look the strongest of all of the Mega Caps right now, along with $MSFT.

Just $7 away from its ATH line now, where all of the other Mega Caps have reached, apart from $TSLA.

I still hold 60% of my original $AMZN holding and I am happy to hold this during the correction but will certa...