The Long Investor

$GME

When we spoke about $GME during the week and its possibilities, it was still in its smaller ascending triangle, as long as it held in this formation, I was leaning towards a break out to the upside.

However, the market had a different plan.....and with weakness in the market, an outdated company like $GME would not be immune.

Needless to say, I do not like this company and during t...

$CVNA - RC -

A run from $3 to $58 in 7 months is going to bring an aggressive pull back with it.

We can see that the price stopped out exactly at the previous high from August 2022 at $58, it has since dropped down to $40.

Oddly enough, this has been following our count, in spite of how bizarre it looked when we first charted this at the start of the year.

We have Wave C ending high and as...

$FSR - MEDIUM TERM -

Adding my 18 month projection for $FSR here so we can reference it when we need to.

$PENN - RC -

Rejected again trying to get out of the descending wedge and pulling back now and working its way down through the critical support Fib levels.

It has also lost the 50 Day MA too and the 200 Day MA is a good bit higher than the 50 Day, which is not a good sign, solidifying the bearish trend here.

I would not do anything with this until it shows signs of support.

As it stands t...

$XPEV - RC -

In our last update of $XPEV we spoke about how extended this has been, especially for Wave 5 and at that point, we could see that it was on track to hit the 3.618 Fib, I have said before that I have never seen a stock extend past the 3.618 Fib before too.

Before it got its chance to test $25, it rejected and has dropped from $23.50 to $18.3.....although an aggressive drop, it was needed ...

$ATVI - RC -

The trend here is clear but if we look at all the analysts who reported in July, every one of them downgraded $ATVI....we saw this with $SOFI too, in spite of its upwards trend.

I know the UK authorities have been delaying the acquisition of $ATVI to $MSFT but the fact remains, $MSFT see a lot of value here and see a promising integration into their ecosystem and $MSFT have been ahead of ...

$BKNG - RC -

Big fan of Booking.com and have been using it for over 10 years now, one simple feature which allows you to pay when at the premises and free cancelation up until the day before you go, makes this site very appealing to customers.....it beggars belief that other platforms do not provide the same service.

Broke out of its long channel last week and just finished the week above the yellow ...

$BTC

Very slow movement from $BTC over the last 6 weeks, barely moving in either direction but slowly drifting down the Fib levels but using the 0.38 Fib at $29k as a base level.

We can see that the 200 Day MA has come right up now and is just below the 0.618 Fib, eventually both of these points will reach each other.

The last time both of these points met each other was in March 2023 ...

$PYPL

Ok this is what we are dealing with now with $PYPL.

Price just held support today at the 0.78 Fib, we still need more price action to confirm that this is a support level and we will watch for this on Monday.

We are right in the middle of the buy zone, so as before, I will accumulate here in this undervalued area.

We can see that the price has also dropped back into the wedge...

$SOFI

$SOFI finished the week exactly at our Subwave 4 level, there is no changes to this chart from the previous ones I have uploaded.

Tough week for finance stocks, the 10 Yr probably played a big part in the overreaction to $SQ and $PYPL, $SOFI got brought into this as well.

One thing is clear, these are not trash stocks. They each have important moats and could possibly be 5 X potenti...

$DAL

While $LUV may only be starting Wave 3, we can see that $DAL has held our Wave 4 level at $44 today and may be starting its Wave 5 next.

However, we could still be in Subwave 5 of Wave 3 here, it is just coincidental that both Subwave 4 and Wave 4 are at the same level.

I suspect it has something to do with the 50 Day MA offering support on the daily chart.

My conclusion, aft...

$LUV

So far holding the golden ratio between the 0.618 - 0.65 Fib and above the trend lines.

Still need to see signs of reversing  and the 50 and 200 Day MA are just above together on the daily chart.

A break out above $34.20 and this level then holds, we are into Wave 3.

Looks very straightforward from here.

$BIDU

Like $BABA, $BIDU is maintaining its structure and performing well.

Comfortably above the 50 Day MA and 200 Day MA and it is on course to test the blue line soon which was the previous high at $160, a break above here and we are into the Bull Case and the impulse wave is confirmed.

$OXY

Fantastic bounce for $OXY on the 0.5 Fib which was also the 200 Day MA on the 1hr chart.

In spite of its earnings miss, $OXY is about to make a new high since March this year and the count remains the same.

Maybe Mr Buffett is stepping in again here.

$SQ

$SQ chart is now invalidated, the selling pressure has been heavy.

So I am watching these support levels now on the white Fib lines.

I am open to the possibility that the climb up to $81 was our 5 waves up and we are in the corrective wave now, but I will only know this when support is found.

$ABCL

Testing the lower end of this channel right now, we have seen this on a number of charts lately, the PM is showing a dip underneath it so we want to see this regained quickly today

Earnings out yesterday and it was mixed.

Earnings beat but revenue was a miss.

$FSLY

A reminder, following our chart very well here and testing the upper limits of the channel now.

Wave 2 held the 0.618 Fib at the bottom of the channel and has bounced since, so lets see if it can break above $20.60 and hold, then we have the impulse wave confirmed.

$TSM - RC -

OK 18 month projection for $TSM.

Nice pull back after hitting Wave 5 and we have set the Fib levels for the ABC correction....conveniently we can see that the 200 Day MA is in line with the 0.38 Fib at $91 and the 50 Day MA is in line with the 0.5 Fib at $85. So I suspect support will be held at one of these levels. Making this an excellent level to add or start a position.

A break ...

$AAPL TOP 20 UPDATE

$AAPL down -3% in the PM now which brings the price exactly to our Wave 4 target at $185.

Remember, this is only Wave 4, this is still more upside here.

There is no way, on any planet that this dip does not get bought heavily.

The All Time High line was at $182, this is going to be a support level....so buying between $185 and $182 makes a lot of sense here.

$AMZN TOP 20 UPDATE

OK I am just provisionally uploading this and will upload again over the weekend as part of the Top 20 List, after seeing some price action today.

The earnings were smashing and I am delighted to see how well they are doing, you all know how bullish I have been on $AMZN which is why I have been buying $AMZN since March and no other Mega Cap stock, apart from a little bit of $GOOG.

...

$IQ - IMPORTANT NOTE -

The unfortunate truth is, when a stock runs, we hope for a pull back, when the pull back comes, we don't buy.

This is true for 90% of people who invest.

The 10% that do buy are the ones who are making money.

$NIO is a brilliant case study here, we got everyone in this group to wait until the buy zone came before buying, in spite of 9 aggressive bounces before the buy zone happ...

$GPS

$GPS has not been putting a foot wrong.
Held by the 200 Day MA on the daily chart and pulled back and making another attempt and breaking above this level at $10.95.
A break above and holding at this level and we are into the bull case and impulse wave is confirmed.

$NIO TOP 20 UPDATE

We got our answer yesterday, whether we were still in Subwave 4 or not, since we went above the previous high, this confirmed that Subwave 4 is complete and we are in Subwave 5 of Wave 3 now.

So we are watching for the 2 Fib now at $16.34, around this level is very important as this is a resistance level from previous highs, it has not gone above this trend line since Jan 2022.

A b...

$SQ

Earnings report was released yesterday and although it is a double beat, it is down in the PM, possibly following $PYPLs lead, and concerns with the 10 Year yield, which does appear to be going higher over the short term.

However, the chart is still maintaining its structure but working its way down the Fib levels now, it lost the 0.78 Fib in the seller frenzy after the earnings, so we a...

$AFRM - WATCHLIST -

The last time I uploaded this was on the 18th of July and advised to put this company on your watchlist as it was attempting to break out of its long wedge.

Breakout has happened and has held above the wedge line with a number of attempts here too.

We can see that the 50 Day MA has assisted with this support too.

Exact same chart from 2 weeks ago, so no changes.

Certain...

$CVS

Looks like a clean rejection at the 1.618 Fib for Wave 3....as we expected.

Pulled back instantly and on track towards our Wave 4 target now.

We need this to hold above the Blue Line at $72. A hold above this level and we should see a move up again to complete Wave 5 at $79.

$LULU

$LULU is thinking about making another attempt at breaking out of this ascending triangle.

It has made one attempt on the 19th of July but it only momentarily broke out but did not hold above the line, this is not a buy entry then.

We want to see a break out above $390 and then ideally we want to see a retest of this level from above, a retest and hold, then we have a support line, ...

$F TOP 20 UPDATE

$F has held the 0.618 Fib again at $12.87, after going as low as $12.86 today, this is the third time that the 0.618 Fib has held support.

We can also see that the 200 Day MA is exactly at the 0.618 Fib level too.

A double support like this is always something you want to see, especially on the daily chart.

$F can take its time moving, as long as we see it maintaining this sup...

$BLNK

I have still been watching this in the background and I like how it has held the 0.618 Fib so far and moving tighter into this wedge....likely because earnings will be out next Tuesday after hours.

This is certainly high risk, high reward here.

At the moment, with the market being volatile, it is not something I am playing.

But there is a wedge break out and it is holding so f...

$LUV

These are the facts:

1. Broke out of a long 2 year downward trend.

2. Pulling back and holding at the 0.618 and the lowest point holding above the 0.65 Fib.

3. Holding outside of the downward channel.

4. I can see three waves in this Wave 2.

5. 55% down from its All Time High but travel has completely recovered.

6. The risk is a small reduction in domesti...