The Long Investor

$AMZN TOP 20

Continues to still behave stronger than $AAPL and $GOOG but we saw signs of breaking down this week, which is why we sold 20% of our position in $AMZN at the start of the week

Price broke down from its bearish ascending wedge formation and rejected again at the top yellow line...to finish the week below the 50 MA on the 1hr chart.

200 MA on the 1hr is at $170, a break down from this...

$AAPL TOP 20

In a very obvious corrective wave here and we confirmed it within minutes of the market opening on Monday and it continued to sink all week.

On Friday the price managed to hold just at the 0.38 Fib at $170, meaning Wave A could be complete, at the same time we saw the first bit of weakness from the Semi Sector.

If $AAPL can continue to hold on the 0.38 Fib at $170, it can bounce for...

$FTMUSD - RC -

Straightforward impulse wave here and shortly approaching its 1.618 Fib level for Wave 3....we have seen some euphoria lately where the price continues higher beyond the 1.618 Fib but this is dangerous territory I believe and too extended.

Wave 4 here above the blue line at $0.65c is the level to add and not chase.

$TMDX - RC -

Last time this chart was uploaded was on the 14th of Sept and in spite of the wild swings here....there is not a single change to this chart and it is moving as expected to our Wave 5 target.

Price has recently held the 200 Day MA with a perfect bounce, so I expect this to continue moving higher to our Wave 5 target.

$FUTU - RC -

Nice wedge forming here and particularly strict on the lower base of the trend and found support 4 times and each time making a higher low, which bodes well for a test of the top trend line of the wedge.

A breakout at $61.50 and the next text will be the blue previous high level at $72....a successful breakout here and the First and Second Targets are above at $88 and $114.

$MDB - RC -

Another chart that has gone extremely well for us over the last 12 months and moved as projected.

I see the price action in an ABC correction now and just finished the week on the 200 Day MA, so it could bounce for Wave B now or come down to the 0.38 Fib and bounce from there but a relief bounce is coming I believe before coming down lower, to the 0.5 Fib - 0.618 Fib between $321 - $277.<...

$GTLB - RC -

This behaved like a chartists dream.

Descending wedge breakout, bounced to the First target and then pulled back and consolidated for 6 months until the end of 2024 and then broke to the upside and hit our Second target.....as text book as they come.

Tried to stay above the Second target but could not find support and is now dropping in 5 waves.

$54 and/or $43 are the two leve...

$BITF - RC -

I am particularly interested in the Wave 3 target hitting the 1.618 Fib level exactly which tells me that we are in Wave 4 now and one more leg up is next still to $5.65, to the 2.618 Fib, in normal circumstances, without going extended.

What is also of interest is that the 4.618 Fib......the highest extended level is exactly at the 2021 high at $9.27......very coincidental.

For now...

$VSCO - RC -

This is a chart I have been watching in the background and it had shown impressive moves since October and managed to get above its red channel in Feb, but a retest of the channel from above was a failure and it dropped heavy from $30 to $18.

The price is below the 200 Day MA, so the projection remains in favour of the bears here and a test of the previous low at $13.60 could be next

$LABU - RC -

It has been a long time since we last uploaded a $LABU chart and it has recovered very well since $48 in November and now at $153.

Price has broken out of its descending wedge and above the 20, 50 and 200 Day MA now and continues to move higher.

A test of the Moving Averages next and then a bounce higher is expected.

A move to $280 this year would be impressive. 

$XRP

Still no break out here for the $XRP and the SEC filing may be slowing this down, which is not due to be finalised until the end of this month.

There is a significant lag now between $XRP and the other large and prominent Crypto Coins, so I believe that when this SEC filing is complete, we could see a very aggressive move here.

The Breakout levels remain in place, first above the $0...

SILVER - SAFE HAVEN -

Testing the wedge line now at $24.30 after we highlighted this again 3 days ago that it was moving up to the trend line, it has not broken through this level yet but this is what we are waiting for....a breakout and a retest ideally.

I will more than likely store some cash in Silver with a hold above $24.30 and I will be happy with a move up to $30 over the next few months here.

Rem...

$NVDA

Hard rejection today as the price hit $974, the $1000 mark was expected by almost everyone and their neighbours dog and it looked like it was going to hit but the smart money said, 'we are not going to wait until $1000 is hit before getting out' so they got out just before it.....and left some bag holders holding in the late $900's.

Down to $856 in AH now which is a large drop from $974.<...

$SQ

Retest of the channel top line at $74.30 and bounced to end the day up 4.5%.

Nice structure now and this was highlighted in our last upload.

A higher high will be needed next above $83.29 and this can go back up to the blue line at $101.

Very strong response from $SQ after hitting $38 in October.

$CLSK

Has given us the perfect bounce on the 0.5 Fib at $14.96 and jumped 13.5% today.

Still early to say that Wave 4 is now complete but it is off to the best possible start.

I know many people questioned whether this would rebound but $CLSK is regularly showing wild swings but as long as support is held where it needs to, then the structure will always remain in place and that is what h...

$X - RC -

$X still has more room to run to complete Wave 3 at $60 and at our First Target at $56.

This has run from $4.5 in March 2020 to $47 right now, so a 1000% increase, so the market certainly feels that $X is in a strong position and with many Institutions expecting the next decade to be the infrastructure expansion and improvement decade, then $X is in a strong position to benefit greatly fr...

$MCD - SAFE HAVEN -

$MCD upward channel has not changed in 8 years now, any dip has been an opportunity to add and it will continue to move in this projection for another 4 years or so.

Wave 3 is at $335 right here and that is if it stays within the channel, if it breaks to the upside of the channel then this can move even more aggressive and we will watch for that.

With a 2.3% dividend, it is also a d...

$LRCX

This is a chart we have been following for over a year now and it is a hallmark chart for a long term investor.

It moves slow and steady and strictly within our projection, so it is a dream to chart and a dream to hold.

There has been no changes to this chart in about 9 months now and I expect it to continue moving higher to our Wave 3 target at the 1.618 Fib at $1280.

Holders...

$MGM - WATCHLIST -

$MGM continues to follow our projection and the price action is staying above the 200 Day MA, after bouncing on the 0.618 Fib in November.

$MGM needs to break above the $50 level, which was its high in Sept 2021, a break above this level and the Bull Case is triggered and Wave 3 is confirmed.

$IWM - WATCHLIST -

Rotation seems in full effect right now and we have got a breakout from the ascending triangle and so far holding above the $205 level.

A finish to the week above this level will be encouraging to the bulls.

We have not seen an aggressive move into small caps just yet but if momentum builds shortly, this is exactly what we could see.

Wave 3 remains at the 1.618 Fib at $247 and...

$COST TOP 20

We have warned about this for the last few weeks....there is no was you can look at this chart and think this is a good time to enter, remember, not all companies will move like $NVDA and $SMCI, they are rare, not common.

This was also at the 3.618 Fib which is incredibly extended right now.

So an earnings report with a sales growth miss was not going to be handled well by the marke...

US 10 YEAR

Nice rejection just below the 0.5 Fib, which was also the high in October 2023 and has not lost the 50 and 200 Day MA.

What we want to see is a lower low next below 3.78% and this will be positive news for the financial sector.

This is likely in anticipation of rates being cut by during the summer.

$SQ $PYPL $AFRM $JPM $BAC $SOFI should be encouraged by this

$ETH

$ETH has been showing an enormous amount of strength and I am putting this down to how far it had lagged behind $BTC and it is simply playing catch up here as they are so closely linked.

When I first started to assessing this in October, it baffled me how it was so disconnected from $BTC and wondered what was I missing?....why was this so obvious that it was going to jump, that it could n...

$DAL

We have waited since the 16th of Jan to make a higher high here and break out of this ascending triangle at $42.70 and we finally got it yesterday.

The price has retested this level into the close and managed to stay above this level at the close too.

What we want to see today is a bounce on this level or staying above this level for the day, which means the week too.

I really...

$NIO TOP 20

Yesterday showed the first sign of a trend change, after the pull back from Weds, there was a hold on the 50 MA on the 1hr chart and the price finished the day just testing the 200 MA at $5.77

The significance is that a higher low was found and there is a continuous test of this 200 MA, possibly weakening the resistance at each test.

I believe it will still come down to how the HSI ...

$BLDE - WATCHLIST -

I am seeing this brand pop up a lot in the North East of the US right now, especially in JFK and Newark airport, they are a commercial helicopter ride service from the airport to manhattan. 

The price has rounded out and broke out of its descending wedge, now above its 20, 50 and 200 Day MA and testing to make a new higher high above $3.95

My upside targets are $6.20 and $9. 2024-03-07 23:41:33 +0000 UTC View Post

$CP - HIGH PRIORITY - SAFE HAVEN -

Up another 2.66% today.....and for a slow mover, this has moved very positively since breaking out of its channel.

My post yesterday discusses why I am so bullish here, regardless of the clear bullish indications on the chart.

$YINN

I see you Cup and Handle formation.

Bull handle here since the 27th of Feb and it is quite tight, so a breakout at $18 and this could turn very bullish, very quickly.

I am overall bullish on China so it does align with my view but so far I am liking how the price action has now stayed above the 200 MA on the 1hr chart.

$LULU

Interestingly a higher low has formed here now between the 0.236 Fib and the 0.38 Fib which is sufficient for Wave 4 to be complete now but the price action is still struggling with the 200 MA on the 1hr (as is $NIO) the price has rejected at this level since the first week of 2024.....so a break out above this level at $461 and holds above this level, then I am happy that Wave 4 is complete an...

$SQ

Still no changes to the $SQ chart but getting plenty of questions about it.

We can see now that $SQ has retested the channel at $74 and has held above the level and even bounced, staying above the channel is bullish and as it shows on the chart, it is into the Bull Case here.

A higher high above $83.29 next and this is further confirmation that the channel breakout level is now the ...