The Long Investor

$V TOP 20

Earnings report came out yesterday evening and they slightly beat on EPS but slightly missed on Revenue, price is down -3.5% in the PM now at $255.

He added this possibility in yesterday's Pre Earnings commentary. Blue line at $252 is what we are watching now, which was the top of Wave 1, holding above this level will confirm this is a solid support level and I would consider a position here.

Getting a chance to buy $V below its 200 Day MA, on the same week we added it to our Top ...

$TSLA TOP 20

So in short, $TSLA missed on earnings but beat on revenue, delivery numbers increased but gross margin declined and FCF declined.....so it was a mixed bag.

Earnings call appears to have been positive and all headline figures we spoke about yesterday before the report were focused on.

That being said, the price is down -8.5% in the PM now.

Dan Ives reiterated $TSLA's PT of $300 today.

On the chart, we can see that the 0.38 Fib at $231 has not been holding and the price...

$SNPS - RC -

Mixed signals on this chart right now but I am leaning on the side of the current count, whereby Wave 5 completed at the 2.618 Fib at $629 and we have a double top here too, so I have added in the amber Fib levels to show where support can be found when its ABC correction is complete.

Bulls will like how the price has stayed above the 200 Day MA and still in an ascending triangle set up, so staying here and above this level can still push this higher if earnings is strong.

$LULU

This is a very common set up we are seeing right here.

$CELH, $NKE, $DIS, $SBUX etc are all desperate to find support and it is still not confirmed yet for them all

Each one I believe will offer value once support is achieved and they can improve on their next earnings report

They are market and sector leaders for a reason and have been through this many times in the past

The trend support line here for $LULU is at $261, losing this level and the 0.618 Fib is in play (...

$TSLA TOP 20

$TSLA reports after the close today so here are my thoughts:

I don't think the earnings report will be flawless and there will be some concerns, especially in terms of margins and sales in China and Asia. I would not be surprised to initially see a flush down to the triangle bottom line at $239 or the 0.38 Fib at $231, stop losses will likely be raided and the price holds above the yellow trend line after the earnings call is complete and Elon gives an optimistic view on Robotaxis, Hum...

$GOOG TOP 20

$GOOG reports after the close today, along with $TSLA and $V, these three will play a big part on how this earning season will unfold.

$GOOG managed to test its 50 Day MA to end last week but has now managed to bounce on this level as we lead into their earnings release.

In their last report, they announced a double catalyst, a large share buyback and a dividend, the share price jumped from $152 to $176 on the strength of this news, I would be surprised if they approve another buy...

$CAT - WATCHLIST -

Bringing $CAT back to your attention again due to how attractive it looks right now.

Wave 3 hit the 1.618 Fib and pulled back for Wave 4, which then held on the 0.38 Fib at $322, textbook.

Formed a flag in this pull back and has recently broken out of this flag and now retesting the breakout level, where the 50 Day MA is there waiting to offer support too, making this a confluence level at $340, a hold here and this can move higher to our Wave 5 target at $413 at least.

Very...

$PFE - WATCHLIST -

You can probably tell from my recent comments that I am getting very bullish on $PFE, it has been a slippery company and chart in the past so I have been reluctant to get back in here but it is becoming increasingly obvious that I can not ignore the elephant in the room for much longer, as there is value on the table here.

Pulled back to the 0.38 Fib at $29.30 today exactly and holding well and can move higher from this position.

We can also see that the 50 Day MA is about to cros...

$V TOP 20

Big earnings report coming up after the close today for Visa, our newest addition to the Top 20 list.

Price is sitting on the 200 Day MA, in between the 50 Day MA, which means the price is getting squeezed right now leading into the close before earnings.

This usually implies a strong move is next.

Overall the price is in Wave 3 of an impulse wave and above its 2021 high blue line at $252.

It has also formed a bullish structure in this flag leading up to earnings too.<...

$DIS TOP 20

$DIS is showing some capitulation now and once the red trend line was lost yesterday, this triggered a lot of selling and has dumped hard today, down -3.5% now

The next test for support will be the 0.78 Fib at $88.50

Losing this level and the price is into the Bear Case next below $84, showing a lot of weakness.

Covid low is at $78.70, a far cry from the bullish sentiment in April at $124.

RSI now on the daily chart is at 16, so I suspect support will be found shortly....

$COIN

Zero changes to this chart.

Price has broken out of the wedge we have been watching, retest the wedge breakout level at $252 this week and now bounced and holding above this wedge.

$369 level remains the target to complete the Cup and Handle formation.

I am watching for this count to complete at the 2.618 Fib at $286 and may pull back then to test the 1.618 Fib level at $256 for a retest, a hold here and you have another buy signal.

$CCL - WATCHLIST -

While the airlines have been struggling on either side of the pond, the cruise lines are not showing the same uncertainty.

$CCL is now testing its ascending triangle breakout level now at $19.60 and a flip of this level to support could see a strong move higher.

We have Wave 3 as always at the 1.618 Fib at $32.55.

Comfortably above its 50 and 200 Day MA now with a golden cross too.

With the uncertainty in the travel sector, I suggest waiting to add until $19.60 becomes...

$ETH

$ETHs ETF started trading on the market today and is up +1% now but had a strong rally leading up to this point, so it remains to be seen whether this catalyst is now factored in.

The price has tested the 50 Day MA from above 4 times now over 4 days and has held each time, so this is a positive sight.

I have no issue if it comes down to test the white fib levels, especially the 0.38 Fib at $3280 before going higher.

Ultimately I believe this can reach its ATH line with ease ...

$AMZN TOP 20

$AMZN had sold off more than the rest of the Mega Caps over the last week but it has done a good job of recovering some of these losses today with a strong bounce.

Remember, we have added here again on Friday at $184.

If the price can continue to stay at $188 and flip this level to support next, I am seeing this Wave 5 as an ending diagonal, which is where waves overlap and it is a series of Zig Zags to complete the Wave, this is only found in Wave 5 (Lesson 4)....so we know that ...

$HIMS

Very nice response from $HIMS since the flush down on Friday, where the 50 day MA was lost but regained almost immediately yesterday with a strong bounce and a continuation today

Price action has bounced to the 0.38 Fib level now at $21.44, staying above this level will be an impressive achievement today and sets $HIMS up nicely to continue moving higher in this Subwave 5 of Wave 3.

Zacks has announced that $HIMS is one of the most searched stock on their site and still have a rec...

$LABU - WATCHLIST -

$LABU and $IWM have almost identical set ups right now, which is not a surprise, a bullish run for Small Caps will likely benefit the Biotech sector.

Again price has held on the 0.38 Fib here too and this remains above the ascending triangle breakout level at $124.

This set up remains bullish and comfortably above its 50 and 200 Day MA.

Remember this is a 3 X leveraged position, so caution is advised.

$IWM

$IWM is being very well behaved here and I have added in the smaller subwaves for clarity.

The breakout through the ascending triangle was subwave 3 and the pull back since then has been subwave 4, as always we expect Subwave 4's to test their 0.38 Fib for support....in this case it is at $215, and that is where support was tested today exactly at $215.

It was a very quick test for Subwave 4 and may need a second retest to confirm this is a support level.

Big earnings repor...

RYANAIR - LSE -

As an Aer lingus Captain, I despise Ryanair, they are single handedly driving down the standard of living for airline pilots by pushing working conditions to the limits and I have never bought a ryanair share because of this......which is probably not the right decision but I have my reasons.

Ryanair reported earnings today and they they reported a shock miss on earnings, -35%.

They are the leanest operative in the airline industry and massively efficient in terms of squeezing eve...

$BTI - DIVIDEND +8.8%

I noted today that $PFE has one of the best set ups for dividend stocks right now, it could benefit from an increase in share price while also paying a hansom dividend, the set up is turning bullish while reversing from a 3 year low.

These are all very appealing benefits right now.

That being said, $BTI is arguably up there too, however it has a dividend of +8.8%, incredibly attractive, with a similar technical set up.

Golden cross is clear on the chart too.

This is a ...

$BLDE

This is a Cathie Wood stock that she has been buying hand over fist, take what you like from this statement but I can not the deny the set up here.

Broke out of the descending wedge, formed an ascending triangle now and holding above the 50 and 200 Day MA as the price moves up to test the top line again at $4.

This is a high risk high reward position, so I think waiting for support confirmation is needed, so a hold above $4 would need to be seen before considering a position.

$CHTR - WATCHLIST -

I have spoken about this company a number of times over the last few months, as I noticed a trend from Superinvestors that they have started positions here or added to their holdings in the previous quarter so it caught my attention.

We have this completing its Wave 2 and Wave C and have been observing its bounce since April and it has been strong.

It bounced to its 200 Day MA and 0.618 Fib, which were conveniently at the same level at $334.

So I am expecting a pull back now...

$NVDA

$NVDA holds the key to a lot of the market right now, we saw how influential it was on the market when it started its decline last week, damaging the momentum of $AMD moving higher too.

That being said, it has opened strong this morning and up +4%, also showing a test of the 50 Day MA and bouncing on this level.

There is the start of a descending wedge forming now, it needs to develop more but this is usually seen as a bullish set up if it maintains its structure a little longer.<...

$CRWD

$CRWDs fate has been decided, companies have clearly not given them the benefit of the doubt that this was a once off event and the excessive selling continues today, down -12% now.

As I showed on Friday, losing the Wave 4 level at the red line and the 200 Day MA would mean the ABC correction is confirmed and that is confirmed now.

Wave A is desperate for support now, the 0.5 Fib at $244 could be that level, before a relief bounce for Wave B will be next.

Wave C completing u...

TWEET - 5 RULES TO LIVE BY -

5 Rules we are strict about in our group: 

1. Be greedy for support confirmation 

Everyone wants to buy a position before it breaks out, in the hope that it goes rocketing higher, this is what the masses do Smart Money will only start a large position once the breakout level has been converted to a Support level, this is where risk is at its lowest.

2. Never chase a stock. 

If a stock has jumped 2...

$PSO - WATCHLIST -

$PSO has just broken out above its ascending triangle top line at $13.10, we highlighted this chart a number of weeks ago, it was an RC chart that I love getting, strong fundamentals and technically a bullish set up, then we find the targets and the breakout levels.

If $PSO can flip the $13 level to support, then the First Target can be next at $16

There is also a +2.1% dividend here too.

This is unlikely to jump 100% over a short period of time but it moves consistently an...

$CELH

$CELH has lost the $50 level so far but testing the yellow trend line that has been in place since 2021.

Losing this level and the next test is the 0.618 Fib at $38.74.

$CELH is the perfect chart I was referring to on X, we can see that Wave 2 held on the 0.618 Fib, Wave 4 held on the 0.38 Fib

Price pulled back in 3 waves after completing Wave 5 and is in between the 0.5 Fib and 0.618 Fib now.

This is as perfect as you will ever see from a chart.

The 0.618 F...

$RIVN

$RIVN's Wave 5 has jumped in between the 2 Fib and the 2.618 Fib, which is the normal Wave 5 range to complete, I think a bounce up to the yellow trend line is still a possibility here before needing a pulling back.

So I have added in the White Fib levels that consider a bounce to the 2.618 Fib before pulling back.

A pull back at the trend line is perfectly fine and healthy for an impulse structure and we can see that the 50 and 200 Day MA is aligning with the 0.5 Fib and 0.618 Fi...

$HIMS

$HIMS came very close to the invalidation line on Friday but managed to hold above it and is looking to regain all losses in the PM now from Friday, up 3.6%.

$HIMS have announced that they have appointed Kare Schultz to their board, he was was the CEO of Teva pharmaceutical and President and COO of $NVO.

His statement today:

"Hims & Hers is on a trajectory to upend the healthcar...

$NIO TOP 20

We are still waiting for $NIO to break out of this channel and get above the 50 Day MA, this was not going to happen last week with many Macro influences on both sides of the Pacific but it does have a chance to do it this week.

5500 confirmed orders were reported today which is in line with their target for the month and reacting well in the PM now, up +3%.

The 50 Day MA remains at $4.90, a level that has been a resistance level, so flipping this means the bulls have woken up. 2024-07-22 12:48:11 +0000 UTC View Post

$YINN

$YINN is up +5.6% now in the PM, we can see that the 200 Day MA was under threat at the end of last week but a dip below is not confirmation that the level is lost and now the price is firmly back up above the 200 Day MA in the PM now.

The HSI finished up 1.25% today after Rate Cuts were announced by the Central bank, this is a stimulus measure and something the Fed would like to be in a position to do but is still concerned about inflation rebounding, China does not have this issue. 2024-07-22 12:44:38 +0000 UTC View Post