The Long Investor

$COIN - WATCHLIST -

If you did not catch the $BTC and $ETH bounce, $COIN may be in a position here to take advantage of the positive attention that crypto is getting right now.

It just hit its wedge breakout level at $253 yesterday and has not broken out just yet.

A breakout and hold above this level and I believe $COIN can move higher to complete its larger Cup and Handle formation which completes at $369.

Crypto fans should have this...

$BRK.B

Berkshire has broken out of this descending wedge and above the 2 Fib at $415 and is now moving higher with the market and on track to hit its 2.618 Fib at $453.

BRK.B is the only Mega Cap with a PE and FWD PE below 15, making it not overvalued in terms of traditional metrics, metrics that Buffett is religious about.

Very nice looking chart here and showing no signs of weakness right now.

$SOFI

Very good week for $SOFI and has run to its 200 Day MA with a breakout above this level yesterday but did not finish the day holding above it, with the negative news on Rate Cuts out this morning, I suspect this will start its healthy pull back now, so I have added in the white fibs levels and we can see that the 50 Day MA is aligned with the 0.618 Fib at $6.78, making this a confluence level, so this would be the ideal place for a p...

$IWM

Now that is a very pretty looking chart.

$IWM is a perfect example of listening to the chart and taking each chart on its own merit.

$IWM Small Caps have been nowhere near their ATH's like the $QQQ and $SPY and has lagged for all of 2023 and 2024 up until this month but the chart showed an impulse wave and a move up as shown.

This is what happened and there's not a single change to this chart either.

Once the ...

$BTC TOP 20

Bulls are back in the driving seat and the price is now above the 200 and 50 Day MA.

Price dropped to $53k on the 5th of July and made a lower low but slightly higher than the 0.38 Fib, this is perfectly acceptable for Wave C to be complete at this level, the ABC count is perfect, although the pull back could have been lower the waves are standard.
$BTC also survived German Govt selling without it building large momentum dr...

$AMD TOP 20

At the weekend we spoke about the resistance at the 1 Fib at $187, we have a pull back in the PM now to $171, we can see that this is a level just above the 0.5 Fib, so the pull back has been standard so far, if there is a further pull back to the 0.618 fib at $166, we will likely see the 50 Day MA move up to this level and this is just above the blue support line that we have been using for the last 7 months to define resistance/sup...

$DAL

Very nice response to a test of the 200 Day MA yesterday. The 200 Day MA is the support level I need to see hold or I will sell more of my position, I needed to reduce my risk here because of the rules of EWT but the plan remains the same here, a route up to $48 is still possible to test the trend line and the 50 Day MA will likely move down to meet at this point too.

Holders do not need to do anything right now, as long as the...

$CART

No changes to the chart here but I think a lot of people who bought the breakout here of the channel are keen to know if the breakout and retest is confirmed and I think it is fair to say that it has and has now pushed higher too, to a higher high.

The blue line remains the short term target just shy of $43, no changes to this chart since the last one we uploaded but we have the confirmation now.

SILVER

Silver remains healthy and although it has pulled back, we have not got a test of the $30 breakout level yet, for now we only have a test of the 0.38 Fib and still above the 50 Day MA which is slightly below at the 0.5 Fib and the $30 blue line, making this a confluence level, I still expect a test here, a test and hold, then we have our signal to add again.

$NIO TOP 20

Nice recovery today after a weak start to the week but as we said yesterday, there was a hold of support on the 0.618 Fib yesterday and now we have bounced back up to the 50 Day MA and just testing it now, the plan remains the same, a flip of this MA to support will be needed to show signs of a reversal.

For me, getting back above the blue line at $5.32 is very important, securing this as support will mean a strong attempt can ...

$UNH - EARNINGS RELEASED TODAY -

Another one.

Up +5% now after beating on both lines of the earnings.

They gave one concern that their cyber attack has still damaged their systems but this is not something the market seems too worried about.

So since their last report, the price has jumped from $440 to $544 today.

Nice recovery, nice chart and the next test will be breaking above the blue line at $558.

No changes to this chart for awhi...

$NKE TOP 20 - 5 YEAR PROJECTION -

TWEET:

5 YEAR PROJECTION I am going to be very clear here:

The Monthly 200 MA is at $62 right now, if there is a test of this level, you add and you hold.

Then forget about, put it on the shelf and take the 2.1% dividend payment every year while you wait.

$JMIA

I think we have a leading edge diagonal here, which is covered in our EWT lessons, it is found at the start of impulse waves and the start of a corrective waves, it is when waves overlap each other and form a wedge.

Here we can see that Wave 4 infringes upon Wave 1 and forms a wedge.

So I believe we are in Wave 5 now, with the 2 Fib at $15.61 being the first target, the 2.618 Fib limit is also in play too at $19.24.

$ONON

Beautiful move here, bursting through the 50 Day MA and hitting the First Target now.

This has been a great move here for the chart and Wave 4.

If you have not entered already, then waiting for a hold above the $40 at the First Target is good spot to add, then all moving averages are recaptured and the trend is confirmed to the upside.

I am fully aware of how accurate we have been on a lot of charts lately, we shoul...

$AMZN TOP 20

$AMZN with the perfect test of the $191 level at the 1.27 Fib and bounced to $196 already today, pulling back now to $193.

So we have our first test and bounce, this is looking good to hold support if we get one more test, that will confirm it.

The price will have no issue moving back up to the Bezos Selling line at $200

He could give us a break here and let us enjoy the run......but does he see something that we do...

$ETH

We got a strong pop over the last 48hrs, a combination of Trump gaining support and the $ETH ETF getting an approval date for listing.

The price action bounced on the 200 Day MA and went all the way up to the 50 Day MA.

It has met some resistance here, so let's assume a healthy pull back can happen here....(remember the market always gives you a chance, so never chase)

So I have added in the white fib levels to see...

$PYPL TOP 20

$PYPL is showing signs of making positive moves here.

Found support on the blue support line and the 0.618 Fib for our Wave C and the price is back above the 200 Day MA now at $61.

The 50 Day MA is moving down to this level now too, so flipping both these MA's to support this week will be a big statement.

US 10 YR is sinking and we are seeing a lot of the finance stocks we monitor showing signs of reversing, they wi...

$TGT

Always remember to let the price action do the hard work, when the set up is there, give the market a chance, market makers can see the set up too and if they can take another opportunity and raid tight stop losses again, they will do this....which is likely what happened yesterday and with $ZS a few days ago, it is a very common occurrence.

$TGT is back above $152, I have added the subwaves now and the 1.618 Fib is the next ta...

$HIMS

Charts that run as smoothly as $HIMS is something we are always going to take advantage of, rinse and repeat these strict subwaves for maximum returns.

These subwaves of Wave 5 of 3 are moving very well here and the 1.618 Fib is the next target at $24.90.

I don't play the subwaves like this, I only sell at the top of primary waves, as we did at the start of June, to add when Wave 4 pulled back.

Stick with this and l...

$SHOP TOP 20

$SHOP got a bullish PT increase today from BofA from $78 to $82, this happened just as we were waiting for a kissing on the 50 Day MA and the 0.38 Fib at $63, BofA timing is not a coincidence, they were watching exactly what we were watching too.

That being said, we are happy with our position already and enjoying the gains today, next test will be converting the $69 level to support which is the 200 Day MA, a hold above this l...

$SQ

In a unique situation here where it can benefit from a drop from the US 10 YR and $BTC running higher.

$SQ ran aggressively with $BTC towards the end of 2023 and pulled back with it too, a healthy set up now holding on the 0.5 Fib and above both moving averages puts this in a good position to move higher if $BTC starts its reversal now too.

First test would be the yellow line at $80, a breakout above here and the next tes...

US 10 YEAR

In a very bearish set up here, dropped out of the ascending channel after rejecting at the 0.78 Fib, loses the 50 and 200 Day MA and the 50 Day is about to cross through the 200 Day shortly for a death cross.

Chart remains unchanged and my target is the 0.5 Fib at 2.647%

$PYPL, $SQ, $SOFI, $AFRM and $TLT should directly benefit from this drop.

$TSLA TOP 20

Isn't that just stunning.

A bounce in 3 waves up to the 1.618 Fib again at $265 exactly, followed by a hard rejection and back down to $255 now, if the price can continue pulling back to below the $251 level then we know that the bounce on the yellow trend line was a relief Wave B bounce and the pull back is now Wave C and expect another retest of the yellow trend line and the 0.38 Fib at $231......as per yesterdays chart uploa...

$BIDU

$BIDU dropping -7.5% at the opening along with other Chinese ADRs because of a weak HSI day is an overreaction, Jefferies and Citi both reiterated their price targets today at $174 and $155, a far cry from the $91 level the price hit today.

I normally don't react at the opening but when I do, it is normally to buy, certainly not to sell.

And a red day opening like that after enjoying a strong bounce from $84 to $104 and t...

$ENVX

Continues to rip higher and no changes to this chart, last time we uploaded this was at the start of june and the price is up over +75% since then and still some way to go to hit our Wave Z target at $26.

Golden cross now very clear on this chart, which is a further bullish indicator, any pull backs to the moving averages and watch for a hold of support before moving higher as expected.

$CELH

A lower high and lower now have just been put in, so the trend remains to the downside and thee price hit $51.62, which is getting very close to the 0.5 Fib at $50.41 now.

At this point, waiting for support to come in is the smartest choice, a drop of -11% today is certainly showing weakness and not somewhere I would be rushing in to.

$MGM

Good point made in the Chat group, Tropicana and the Mirage closing down on the Vegas strip, right beside the MGM is likely going to drive prices higher for their group, The MGM group owns a number of hotels around that area on the strip, including the New Yorker, so buying up the land beside them would make sense here too....but this is just a thought.

On the chart, the impulse wave remains current and there is an ascending tr...

$NIO TOP 20

$NIO flushed down at the opening with a lot of Chinese ADRs today but managed to find support on the 0.618 Fib exactly at $4.54.

If the price can stay at this level, then we have a higher low, which is what we are also observing with other Chinese stocks we follow.

Breaking above the 50 Day MA remains the big test for $NIO and so far it has been a resistance in July.

It is following the HSI, so we will let that guid...

TWEET - $BABA TOP 20

A Trump Presidency is bullish for Chinese Stocks.

A Case study:

- Trumps Inauguration on the 20th of Jan 2017 $BABA share price $92

- Trump loses to Biden in November 2020 $BABA share price was $270

Exactly 200% g...

$ETH

Ok nice timing of our Buy Alert yesterday for $ETH, up now over +5% on that buy alone and we set forward our reasons for buying when we did, the more positive reasons we can find, the better our decision making.
On the daily chart, we have a clear bounce on the 200 Day MA which was uploaded yesterday, above we have the 1 hr chart and we can clearly see the double bottom on the 0.5 Fib at $2800 and bounced, with the 50 MA crossing ...