The Long Investor

$DAL

$DAL has gone for another test of the 0.38 Fib at $47 yesterday and held again with a slight bounce today, we need to see more strength here now to show that this will start moving in an impulse wave higher to complete Wave 5.

I am still comfortably holding my position in $DAL and have no intention of selling while in this strict impulse set up.

$DAL is the leader in this sector, it has the healthiest technical setup and one of the strongest fundamentals along with $UAL.

I a...

$HIMS

$HIMS is likely going to be a hot topic today and at one stage was down -18% in the PM but sitting at -9% as of writing this.

We can see since the market opened that the lowest point was between 0.38 - 0.5 Fib which is standard for a Wave 4 pull back.

Also interesting here on the 1hr chart we can see that the 50 MA was a resistance level during the week, meaning the market expected this to move lower either way, as we did too.

If support continues to hold above the 0.5 Fib, ...

$COIN

Testing the 50 Day MA from below and the 0.236 Fib level at $223 is not convincing me of a bullish set up here.

If $COIN loses the blue support line at $206, then I believe $COIN will move lower to below the 0.38 Fib and to the 200 Day MA where I have Wave C at right now.

The overall message here is that when this Wave C pull back is complete, I believe $COIN will move higher and reach $369.

$AFRM

Price action is in a very tight spot now between the 50 and 200 Day MA and the 20 Day MA is just below this range too.....I suspect a direction will need to be taken here immediately as the price can not continue to hold in this tight range.

Another retest of the 0.618 Fib at $28 is possible or finally we get a break above the 200 Day MA at $32.8 and this can move higher to complete Wave 5 at $60.

$PYPL, $SOFI, $SQ and $AFRM have all been struggled to hold support lately, so posit...

$MRNA

$MRNA dropped by more than -11% yesterday due to:

 'after the Centers for Disease Control and Prevention reported a significant drop in the efficacy of the company's respiratory syncytial virus vaccine in the second year, which is now lower than that of rival vaccines.'

Market did not like this news and the price dropped below the 50 Day MA and the 0.5 Fib at $127.

Impulse wave is still valid but the price needs to hold above the blue line at $115, infringing b...

$TGT - WATCHLIST -

$TGT is certainly on my radar, the setup is there and fundamental remain attractive....price is going to get squeezed now shortly between the 50 and 200 Day MA's so the price action must take a direction when these two moving averages merge.

A breakout to the upside above the 50 Day MA and this is a bullish sign and holding above this level and the 0.38 Fib at $151 would attract me to adding my first buy here.

Wave 1 was strong and we are presented with an bullish pull back for Wa...

$PYPL TOP 20

$PYPL kissed its 0.618 Fib yesterday at $58 and managed to hold but needs to hold this level, as we know, losing this level for a Wave 2 pull back will show weakness and we are almost immediately into the Buy Zone then under $57. We are already into the Bear Case since losing the 200 Day MA.

I think losing $58 and many people will drop their heads and panic sell too, people in our group will do this too, I won't be selling but will consider adding in the Buy Zone when support is found.<...

$DIS TOP 20

$DIS has now broken above its 0.5 Fib at $101 and retested this level from above yesterday and has so far held support, if the price can continue to hold above this level and break above the 50 Day MA which is moving down from above at $105 right now, then this is a bullish signal and $DIS can resume its impulse move higher with an initial target between $123 - $126.

$QQQ TOP 20

$QQQ has now given us a breakout above the 1.27 Fib at $473 and now a retest of this level this week and held, followed by its first bounce, this is a good bullish sign that this level is showing signs of being converted to a support level and the price action can continue moving higher to complete Wave 5..

The 1.618 Fib at $508 remains a possibility for Wave 5 to complete.

$ETH

So far we have had a test of the 0.618 Fib at $3256 on the 24th of June and bounce but I don't believe this pull back is complete yet as there has not been a lot of follow through since this bounce and the price is still below the 0.5 Fib at $3392, so while the price is below this level, there is still a possibility that we get another test of the $3256 level which is very close to the yellow wedge trend line.

The 0.78 Fib right now is aligned with the 200 Day MA at $3063 so this can no...

$NIO TOP 20

There has been a notable shift in positivity towards the EV sector now and signs of reversals are appearing.

Happy to see the 0.618 Fib was broken out of today, so lets see if the bulls can flip the 50 Day MA to support at $4.80 next.

So far this pull back since $6 has been impulse in nature and although slightly long for Wave 2, it is very much valid holding this Fib level.

We really need the bulls to step in now.....good start today up +6%.

$TSLA TOP 20

The EV sector got a badly needed injection from VW yesterday after it announced it would invest $5 Billion into $RIVN, this signals that legacy manufacturers still believe that EV's are the future and have identified their threat to the industry, so they would rather work with them

$TSLA and $NIO both benefited from this vote of confidence in the sector today.

$TSLA's next test is at the 200 Day MA at $208 now, flipping this level to support and the big test will be the breakout l...

$PG - SAFE HAVEN -

Proctor and Gamble is traditionally known as a defensive safe haven stock, where people will move their capital into this position in order to protect it from an uncertain market, along with Colgate.

Price action has now broken above a 3 year high and most importantly: retested this breakout level today at $165 and so far has held.

If $PG can continue to hold here, there is a move up to $178 next and $196 after that at the Second Target.

$NU

$NU breakout this week is very similar to what we have just seen on the $AMZN chart and I expect the climb to continue to our Wave 5 target at $13.85 which is the 4.618 Fib, so this is an area I expect Wave 5 to complete before needing a pull back.

$AMZN is not as extended as this and we can see that the price was at $3.30 at the start of 2023 and would hit $13.85 to complete Wave 5.....an enormous and impressive run over 18 months.

$AMZN TOP 20

$AMZN burst through its ATH line today after news dropped it was offering a service to rival TEMU on their own site, TEMU is expected to IPO on the London Stock Exchange (LSE) shortly, so this is considered a blow to TEMU.

This is the power of $AMZN, they can simply move into sectors very quickly and with their strong ecosystem and Amazon Prime, the customer will find it more convenient to buy through $AMZN especially if the price's are similar.

We wanted to see a break above $191...

$IQ

Positive green day yesterday and moving well in the PM now too, we need to start seeing a clear hold and some strength before its time to get excited here tho

I have two buys already in for $IQ and will consider a third once I see signs of a reversal.

For me, getting back above the 50 and 200 Day MA at $4.44 will be important and holding above this level is certainly a buy for me.

$IQ is not a big position for me but I like its set up both technically and fundamentally, whic...

$V - WATCHLIST -

I think $V is in a good position here to start moving to the upside shortly, it has been consolidating in a tight range above the 200 Day MA and I believe with a touch and bounce off the 200 Day MA shortly then this can continue moving higher to complete Wave 3 at the 1.618 Fib at $365.

$V has some of the best fundamentals and margins in the S&P 500 and should be considered to be added to our Top 20 list.

$UBER

I like $UBER as a company and its clear moat and how popular it is around the world but I would like to see a full ABC correction as shown before I would consider adding here.

At $150 Billion market cap, buying at $71 does not appeal to me but buying at the 0.5 Fib at $50 would be a different story.

$RIVN

So now we can add the impulse wave.

Our Wave C point has not changed and we were waiting for signs of an impulse wave but this has been accelerated now as $RIVN got the positive injection of a lifetime.

VW plans to invest $5 Billion into $RIVN which is a gift sent from the heavens for $RIVN and its holders.

So lets see how it looks.

On the chart we can see that the PM price action goes exactly to the 1.618 Fib at $16.35, no surprise there.

There may be some profi...

$DG - RC -

$DG has also pulled back to its 0.618 Fib and has dipped slightly below but has recovered well here.

Big test coming up now to stay above its 200 Day MA at $133 and we can see in the PM today that the price is already above its 200 Day MA, so it will need to hold above this level next and start showing movements in an impulse wave, which would be the start of Wave 3.

So far this pull back since March has been as standard as they come for a Wave 2, holding on the 0.618 Fib.

$SHOP TOP 20

$SHOP is holding well above its 0.38 Fib at $63 but I believe there is still one more pull back before this can move higher, pull backs happen in 3 waves and we are likely still in Wave B now.

A flush down to $62 or lower over the next week would be ideal, followed by a hold and that is our buy signal.

So for me, I am waiting a little longer before adding here again, I am already 3 buys in, so there is no need to rush for the 4th, a structure is only as strong as its pull back and...

$BIDU

Some people see concern, some people see an opportunity

I am always in the opportunity camp when fundamentals are undervalued when a share price is down

Some people will struggle with this strategy and these are people who have short time horizons or have a low risk tolerance and that is fine, that's how you perceive risk and Chinese stocks may not be suitable for you, so stick within your comfort zone but value investors hunt undervalued positions that the average person is afrai...

$PFE - WATHLIST -

So we asked for $PFE to reject at the 200 Day MA and pull back to its 0.618 Fib.....and this is exactly what we got, Wave 2's should come back to this Fib level.

It also gives us an indication that this is Wave 2 too

Many would have sold when the 50 Day MA is lost here but the Fib level is the most important factor.

The price is back above the 50 Day MA now too and the big test now would be to break above the 200 Day MA at $29 and hold above this level.

$PFE has not be...

$HIMS

$HIMS enjoyed a strong bounce yesterday after a flush down to between the 0.236 - 0.38 Fib at the start of the week, this bounce now for me is likely only a Wave B bounce, meaning it is only a relief bounce before pulling back further to complete Wave 4 at the 0.38 Fib at $20.18.

This would be the ideal scenario and consistent with Wave 4 pull backs and in line with how the Wave 2 behaved.

If we just aimlessly buy every pull back then we are chasing, we need to stay consistent, wh...

SILVER

Was not able to stay above $30 so I believe this pull back may need to make a lower low to complete this ABC pull back, with the previous low finishing at $28.65, so a test of the 0.618 Fib at $28.48 is possible.

These are minute differences so should not affect are holdings too much and we should be comfortable holding this throughout.

What we need to observe is if $28 is not held, then we may experience a steeper pull back to the amber Fib levels as I explained before, with the ...

HSI

Has now held support on the 0.5 Fib for the last 14 days, since the 12th of June, the price is now consolidating along this level and below the 0.38 Fib in a tight range, there is not break down of structure but likewise we have not got a bounce yet to move higher, this consolidation sideways can continue and Wave 4's can take their time.

On the MACD indicator, we can see the Wave 4 decline as now leveled off and the selling pressure has cooled, sellers may be exhausted here now.

...

$MU - RC -

$MU has pulled back with the sector and has tested its 3.618 Fib level, which is in line with $NVDA's pull back.

It is still too early to say that Wave 5 is complete for both of these stocks but we are in extended territory now above the 3.618 Fib so we know a pull back is coming, it is a matter of when?

I have added the amber Fib levels which start at the 4.618 Fib, so I am still assuming there is one more leg up for this impulse move as shown.

$PLTR TOP 20

Bullish follow through today by $PLTR after a very impressive performance by the bulls yesterday to test and hold support on the bullish flag breakout level yesterday.

They absolutely needed to step in when they did or a breakdown could have easily happened.

The market is certainly aware of this breakout now and as it continues to hold, this will attract more buyers here I believe.

Needs to continue holding now.

$MRNA - WATCHLIST

$MRNA was not mentioned in my Watchlist Wrap Up this morning but very clearly this should be on our radar too.

Wave 4 continues to hold very well, using the 50 Day MA as support between the 0.38 - 0.5 Fibs, so this pull back has been textbook now.

200 Day MA is now going above the blue line which is above the height of Wave 1 for added protection for this Impulse Wave too, if needs be.

Holds should stick with this, fans of $MRNA should consider entering if a higher high and ...

$ABNB TOP 20 - WATCHLIST -

We can see the clear test of the 50 Day MA today at $151 and a continuation of higher highs and higher lows since hitting the 200 Day MA for support on the 23rd of Mat at $141.

It has not been straight forward as there has been a very large amount of retests, so bulls and bears have battled which has delayed us buying

But a break and hold above $151 and I would be interested.....the moving averages are squeezing now and it's pushing to the upside, this is a good sign.