The Long Investor

$WDFC - RC -

Earnings report was just out and has performed very well on the back of a double beat.

The price action has run all the way to the 1.618 Fib, so this is where we normally see a pull back for Wave 4.

The price is comfortably above the 50 and 200 Day MA and I can see more upside after Wave 4 for Wave 5, up to $255, then it should complete its ABC corrective wave.

$SNAP - RC -

I am not seeing an impulse structure here and the bounce since May has been very vertical with little to no pull backs....very different to a lot of the stocks we are watching lately and hope to start a position in or add to our positions. 

There is a lot of uncertainty behind $SNAPs future and now Instagram seems to be a combination of both tik tok and snap, it's hard to see how sna...

$RH - RC -

The price action has been misleading here, it appears strong over the last 2 weeks but my issue here is that I am not seeing any Wave B since its large decline from the middle of 2021.

So it is hard for me to rule out this structure now being a corrective wave, it simply is not that clear cut.

The positives for the impulse count is that the pull back held the 0.78 Fib level in green...

$NKLA - RC -

I am seeing a lot of chat online on Twitter from people surprised to see $NKLA perform as it has lately. But there is not a single change to this chart since the last one I uploaded on the 19th of April, 3 months ago.

I have only added in the subwaves in green.

$CCL - RC -

This is a requested chart and there is not a single change or need for an update here, the chart is the same as the one I uploaded on the 14th of June.

We need to be mindful of not requesting charts when they are following our projection perfectly.

$ZM - CTOW (Chart of the Week)

Ok I am calling this early for next week because I have seen enough now.

Over the last few uploads of this chart, I have said that $ZM needs to get above $72 to break into the Bull Case, which was the previous high in May.

The price action hit $71.99 on Friday which is beautiful to see and pulling back now and what we want to see is a hold on the yellow trend line at $68.90 for supp...

$BABA

Clearly I am very happy with how $BABA has been performing lately:

1. Wave 2 held the 0.65 Fib

2. Pull back after Wave 2 pulled back to the 0.78 Fib

3. We got a break out above our blue line, the 50 Day and the 200 Day MA.

4. We are making higher highs and higher lows.

5. The chart is offering no surprises so far.

6. The EOY projection is looking good.

...

$U - RC -

Another Cathie Wood favourite and following the same trajectory as a lot of her stocks too.

This has been consolidating within the blue lines for the last year and now showing signs of breaking out very soon.

Staying above $46.90 and the price action is into the bull case.

You could take your pick on a lot of $ARKs top choices because a lot of their charts looks the same.....<...

$OLED - RC -

3 parallel blue lines here, the bottom one is of course the bottom, the middle line is a strong support and resistance line going back many years and not fully seen on this chart and the top line is of course the All Time High line.

Triangle here again and we are seeing a lot of these on many charts and coincidently forming on our blue line, is showing us that if we get a breakout to the ...

$EYE - RC -

Another chart that looks good long term but whether this bottom is in or not is not confirmed, the price action is still below the 200 Day MA and so the trend overall could still be downward.

That being said, the price action held a low 0.88 Fib and has bounced and the low at the 0.88 Fib was lower than Wave A, which makes this count valid as an ABC corrective Wave complete.

So abov...

$BNS - RC -

Very long term chart here for the Bank of Nova Scotia.

It is not clear yet that this stock is out of trouble, it is still in a triangle, as shown in the chart in yellow, the 200 Day MA is still above and the 50 Day MA is crossing down through the 200 Day MA too, which is normally a bearish indication.

We can see that since 2009, the yellow trend line has been a support line and our ...

$PYPL

If you want to see beauty in a chart, this is how it looks.

Hit our Wave 3 target exactly at the 1.618 Fib, where we always set our Wave 3 target and pulled back.

A pull back to $68 would present an excellent opportunity to add to your position and I will certainly be doing this.

But this is a popular stock right now and the market would be crazy to allow it to come all the wa...

$SQ

Hitting exactly at our Subwave 3 level today and pulled back, all very healthy and structured and that is how we like it.

Nice gains this week and congrats to anyone who is up 20% now in this in just one week.

More upside here to enjoy and when Subwave 5 completes of Wave 3, we expect a pull back to Wave 4 at $73.80 and a good position to add again.

$DRV - RC -

$DRV has not survived in an upward trend due to the relentless optimism in the market and in spite of high interest rates, the Real Estate sector has been incredibly resilient. 

That does not mean that this will not eventually move higher but for now, the trend is lower and likely to complete this Head & Shoulders down to $34.

$OXY

Pull back right to the yellow trend line now, holding just at the 50 Day MA on the 1HR Chart and the 200 Day MA is just below for further support if needed if this dips back into the wedge.

Structure still looks good and I always prefer a test from above, instead of a test from below of a support/resistance line.

A bounce here and I'll consider adding again.

$TWLO - RC -

$TWLO with the break out now too.

I am still leaning on this being a corrective count, as this 'pull back' was very much sideways and shallow but still a lot of upside potential in the short term here.

Watch for a test at the blue line at $79 and as Wave Y completes close to $92

$ABNB TOP 20 UPDATE

Needless to say I've been very happy with $ABNB, it is my largest holding right now, just slightly ahead of $AMZN. Both charts continue to look strong and making higher highs.

I am watching for a test at $144.60 next as this was the previous high.

I don't expect a rejection at this level but previous highs, especially after a large decline that followed next should be monitored.

$FSR

A number of stocks pulling back today and like I said in the Telegram Group, a lot of this is healthy and an opportunity.

$FSR pulled back below our blue line but I am not concerned too much by this, on the daily we can see that the pull back is exactly to the 50 Day MA at $6, which happens to be the 0.5 Fib level too.

We could see a bounce and another pull back, as we know Subwave ...

BUY ALERT

Added $CVS today, long term hold.

No stop loss set. 

Discord link constantly expires

I’ll keep updating

https://discord.gg/dtTkp79Y

$UNH

Earnings released this morning and beat on both Earnings and Revenue.

This could signal the start of the reversal and that Wave 4 is complete.

We can see what Wave C finished lower than Wave A and that is all that Wave 4 needed to show complete and valid.

The 50 Day MA is still above at $481 and the 200 Day MA is higher at $500.

But I am happy with what I am seeing here....

$V - WATCHLIST -

A chart I have not uploaded since early June but it is worthy of another look and a reminder.

Wave 2 held the 0.618 Fib level and now the price action is approaching the previous high, which is the All Time High line at $243.

A break above here and the risk is off and this is a very good buy, hold and forget about it for the next year.

Excellent fundamentals and a good dividen...

$TAIG - RC -

Very little I can do here, this is in a very difficult looking downward channel and just about held its last support line at thr 1 Fib level at $1.10.

A break out of the channel will show bullish indications but a lot of work to do and the 200 Day MA is at $2.50, this must be cleared next.

Market Cap is at $53 million here.

I will not be taking chart requests of this nature go...

$DKNG - RC -

Nearly at our Wave 5 target now which is also our second bullish target at $33.

Healthy pull back is needed next before going higher.

This has been a really nice chart to follow.

$HUT - RC -

Strong move here from $2 to $4 and smashing through our Second target, likely still in Wave 3 here, a pull back will need to come soon for Wave 4 and after a 19% jump yesterday, I suspect the pull back will come soon.

I have set Wave 4 at the 1 Fib which is standard for Wave 4 but watch for the second target yellow line as a potential pull back support line before going higher for Wave 5....

$BAC

$BAC earnings report tomorrow and I do not expect much surprises here, apart from beating expectations, not quite as strong as $JPM but I don't expect a miss and the market is expecting the same here too, up 1.60% in the PM too today.

$BAC has finally broke out of the wedge and simultaneously has broken above our blue line which was out H & S neckline.

These are both bullish ind...

$JPM

Only $JPM could benefit greatly and come out stronger, almost directly after a banking crisis.

I reiterate my point that CEO Jamie Dimon is one of the most powerful men globally.

Ascending wedge breakout here, they smashed the conconsenus on their earnings (for the second quarter in a row) and I expect a new high next above $172, climbing to $193 for Wave 3.

$NIO TOP 20 UPDATE

$NIO was battling again yesterday but managed to finish the day just above the $10.74 level.

We all know how important this level has been.

However, some weakness in the PM now, mainly for Chinese stocks and when I saw weakness, it is very little red not much to be concerned about.

Important earnings today for some Large and Mega Banks, so we won't be surprised by any volatili...

$FCEL - RC -

$FCEL pulled back after a failed attempt to break out above the top trend line, the 200 Day MA was just above too and did not test it either.

That being said, the pull back held support at the previous low exactly, which is the 0.78 Fib, so we have a double bottom now (both circled in white) and a bounce.

So $FCEL looks ready to test the trend line again.

Break out above the t...

$SMCI - RC -

$NVDA is not alone here in this parabolic bubble, $SMCI has followed the same course and unlike $NVDA, $SMCI's fundamentals are perfectly fine, with a PE of 27 and a FWD PE of 27. Trading below its markets standard premium ratio right now.

We can see on the chat that Wave 1 started as leading diagonal, and the moment this broke out of the channel it took off, bursting through all our Fib ...