The Long Investor

$F TOP 20 UPDATE

Isn't this remarkable, the 200 Day MA is just at the 0.618 Fib at $12.87 and the price is getting closer and closer to this point.

A good point was made in the group earlier, if you are keen on buying here, do not wait for the exact price to hit, I have seen people miss a stock they like by $0.01c

The next possible support line is at the trend line just below but I think in terms of...

$OXY - WATCHLIST -

Looks like there could be a nice opportunity to add here shortly.

Price has been held by the 200 Day MA, after completing 5 waves up and breaking out of this wedge.

I had added in Fib levels now and we can conveniently see that the 0.618 Fib is just at the 0.618 Fib level at $59 and at the trend line support.

We saw this happen with $BABA, $ZM, $DAL, $ABNB too.

If the pr...

$PYPL

Still holding under the 200 Day MA on the dailly and tested it again today from below, until the price can break above this level at $74.32, the count remains the same.

It has hit this resistance level a number of times now, I have cautioned yesterday that I am not considering selling this to buy again lower, if you are considering doing this, wait for a lower low and confirmation of a re...

$SQ

Performing well today and it still is not confirmed that Wave 4 is complete now but it very well could be. The reason I believe it is, is that the 50 Day MA is just at the 200 Day MA now and it will cross very shortly, this is a bullish indication.

Accumulating in this area makes a lot of sense now, as I believe this will continue higher to $93 to complete Wave 5.

$LUV

$LUV has bounced 3 times on the 0.618 Fib and held, on the smaller time scale, we are getting a bounce now but I want to see more of this to show that Wave 2 is complete now.

It has bounced where we wanted it too, I want to see some waves now, so we can plot some subwaves.

Very happy with our buy here yesterday and would have no issue adding again if it comes down lower to test the ...

$IQ

Former Chart of the Week, it has taken its time as it consolidated in its long bullish flag but the wait was worth it.

3 times the price held the 0.5 Fib and the moment it got above the 50 and 200 Day MA and held there, it took off.

I hope the lesson is taken here about confirming support levels, holding levels and retesting and knowing how powerful they are in support of our charts...

$ZM

I spoke yesterday about my admiration for this chart and that continues today.

The pull back to the 0.618 Fib, at the 200 Day MA and at at wedge trendline was beautiful, we then got a terrific bounce and when the market pulled back yesterday, the price held exactly at the blue line at $72 and held, then bounced today.

I have added on this price action.

Looking for a break abov...

IAG

As expected, IAG smashed their earnings, profits 40% higher than analysts expected.

Price held the 200 Day MA on the daily too and now has bounced.

The price needs to get above the blue line now at 173 and this is into the Bull case.

I said it my last update that I know a lot about this company and expected profits to be good.....because I work for them.

$ENPH - RC -

A lot of requests for this chart which always baffles my mind considering it has done exactly what I said it would do and I can't alter a chart when it has done what I said,

So I am leaving my chart as it is.

When I first put this chart together, I assessed this, I believe it was a few months ago.....and the PM is right down to the 0.887 Fib now, where we said it would be.

Alt...

$BABA

$BABA pushed slightly above the previous high in the PM, I normally do not pay much notice to PM activity in this regard but it is important to note that there is certainly positive momentum here.

The chart is just waiting to pop I believe, I was watching to see if the price action would come down to the 50 Day MA yesterday at $94.50 to add more but it did not happen.

We are in Subw...

$NIO TOP 20 UPDATE

Theoretically this is how it should play out.

After every Wave 5 we have a corrective wave, this is how it looks if it follows EWT.

Momentum could be there to cut the corrective wave a lot shorter but all we are looking for is 3 Waves down, we will be watching this as it develops and I don't expect it to come until the middle of August.

Regarding the price now, the PM is looki...

$JBLU

Sitting just on the 0.618 Fib at the close now and hit the 0.65 Fib and the trend line today.

Very important confluence level here.

I went with $LUV today, as it hit the $0.618 Fib at $32.66 twice, exactly.

So when the price action is very strict on Fib levels, I pay attention.

But both of these stocks will likely follow each other.

It truly baffles me to see these...

$INTC TOP 20 UPDATE

$INTC has just released their earning and has beaten and expects Q3 profits to be above estimates.

+5.5% AH now.

Just short of the previous high at $37.10.

A break above this level and the bulls are in control and Wave 3 is confirmed.

$TSLA TOP 20 UPDATE

Rejected at our important $268 level today and has come down with the market today.

I am not as optimistic about $TSLA as I am about the other stocks we talk about, simply because the chart is not clearly in either impulse or corrective wave.

If $254 is lost, the trend is favouring the downside and it will be up to the 50 Day MA at $242 to try and act as a support. Failure to hold t...

BUY ALERT

$LUV

Discord Link - old one has expired

https://discord.gg/em3CG3tN

$PFE

Rejected trying to get out of the wedge at the yellow trend line which was also at the 50 Day MA, so this is not a buy or an add yet.

We will wait for confirmation of a breakout, my $34 target is still on.

However, earnings are out on the 1st of August, next Tuesday before the market opens.

This could be the catalyst to turn this around.

$F TOP 20

$F does looking ready to start its reversal, it has not started but the price is just sitting on the 50 Day MA now and just hit the 0.5 Fib where we had Wave 2 set.

Very similar set up to a lot of our stocks at the moment.

There many stocks in a prime position to take off.

$FSR, $GPS, $BABA, $LUV, $ZM, $OXY, $IQ

$ABNB TOP 20 UPDATE

Breaking above the $150 level in the PM now, this was a psychological level and the previous high from the start of the week, the main test was on the 20th of July when the price action retested the yellow trend line from above and held.

My attention is still on the $168 level, this will be a big test, this is the equivalent to the $268 level on the $TSLA chart, where it needs to stay abo...

$LUV

Earnings out today and the price is -5% in the PM on concerns of rising costs.....not something I am concerned too much about but most importantly, this brings the price action right down to where we have Wave 2 set, at the 0.5 Fib at $34.

I am not fooled by this PM behaviour, I believe my count will play out.

What I would love to see is this come down to the 0.618 Fib or even the y...

$GPS

Bullish channel break out and has taken off......as our count showed from our last update.

The price held the 50 and 200 Day MA and bounced, bursting straight through the yellow trend line.

A retest of the trend line would be an ideal spot to add here....if you get the chance now.

$TDOC

I'll admit that holding $TDOC is not for the faint hearted but if there was ever a chart to test your trust in what we do, this is the chart for that. 

There has been no changes to this count here, it really did bounce and go all the way to the 1.618 Fib at $28 for Wave 3, as expected.

What is even more impressive, just before earnings were released, the price hit the 0.88 Fib ...

$FSR

You are not going to believe what I am about to say here BUT there are no changes here either!!

Talk about hitting our Subwave 2 target by holding at the 0.618 Fib level.

I want to see this get above the 200 Day MA which is just at the 0.5 Fib at $6.

I think as a low risk entry price, above $6.41 is still the sweet spot to buy here, this will be above the blue line, the 50 and...

$SQ

Like $PYPL, there are no changes here too.

We can see that the price action came all the way down to the 1 Fib, which is the Wave 4 level and has bounced since.

A break above the 1.618 Fib at $81.40 will confirm that Wave 4 is in and the price action is in Wave 5 then.

$PYPL - NOTE -

No change to the chart or count here.

$75 is still our target and I have no added since we broke above the blue line, nor have I sold here either.

If we get an ABC correction as shown, I will certainly be adding at the end of Wave C and likely doubling my position here too.

Wave 5 is already looking like it may extend a little further than 2 Fib, this would bring the price up ...

$BABA

Nice movement yesterday and price is moving up again in the PM to test the previous high at $98.50, I'm not concerned how long this takes as long as I continue to see this uptrend continue and I will be happy.

I have uploaded again the larger chart to show where I see this going overall, if we continue to gather momentum, this could move to our Wave 3 target at $180 by the end of the year...

$ZM

Like clockwork.

On the one hour chart, hit the wedge trend line and bounced and now in the PM, the price is back above the important $72 level.

This is what we advised to look out for.

I know buying on red days is hard but trust is needed here, especially when the set up is presented the way it is here.

$NIO TOP 20 UPDATE

Yesterday's news of $XPEV partnership with VW, fuelled the possibility that $NIO could be starting its own partnership with Mercedes or BMW. I think this speculation is merited but would $NIO sell another 5/7% after selling 7% to a UAE fund recently too?....I wonder would this be a smart move. A joint venture or cooperation without giving up any equity may be the best move but who knows, this i...

$ZM

The price is just above the 200 Day MA and in between the 0.5 Fib and the 0.618 Fib.

Holding the 200 Day MA is as good an area as any to get a bounce from but likewise, the wedge trend line crosses exactly through the 0.618 Fib where the price could be heading, again another potential support line.

So a number of support levels to hold this price up now, I can see 3 waves in this Su...

$TLT - RC -

$TLT has been moving sideways since November 2022, still in a bull flag and has not broken down, the 200 Day MA is putting a lot of pressure on the support line now as it squeezes, so I think one way or another, something will have to give shortly.

I can not give a definitive answer here because both sides have a good argument, so the two counts remain valid.