The Long Investor

$BKNG

$BKNG is also looking very bullish and has moved a lot sooner than $WYNN but $BKNG is the leader in the sector.

We have been watching this all year and no changes to this chart, in the last upload we said that we were impressed to see $BKNG holding the 200 Day MA, it then broke out of the c...

$WYNN - WATCHLIST -

$WYNN has been labeled by some Wall Street analysts as their Top pick for 2024.....and looking at the chart, I can see why.

Price battled to stay above the wedge trend line for the length of 2023 and hit the 0.5 Fib and has bounced so far.

Price will need to get back above the 200 Day...

$PSA - WATCHLIST - SAFE HAVEN -

A reminder of this chart, I spoke about this chart a few months ago to say I was very bullish on Public Storage, due to their fantastic fundamentals and we can see that it held the 0.618 Fib level too and bounced, also going through the 200 Day MA and triggering hard to the upside.

As you c...

$DNA

Very nice day for $DNA yesterday, it broke above the 200 Day MA and once this was triggered, it took off and finished the day up 13% to an EOD high.

I believe this is only Subwave 1 of Wave 3 still so there is a lot of potential upside here and this Subwave 1 may continue higher before pull...

$OXY

Nice bounce on the bear case line, having momentarily dipped below it and then it was announced that Buffett bought this dip and the share price jumped 10% from $55 to $60.

The 200 Day MA is just slightly above at $61.25, this will be the next test for the bulls to break out from and then u...

$U - RC -

A number of requests for $U today, likely because it has run so aggressively too, that is ok and does not mean that the chart has changed either.

The price action has burst through the 200 Day MA and has not taken a breather.

This is not somewhere where we would chase or buy.

A ...

$MGM - WATCHLIST -

A gentle reminder about this chart too.

I have gone on and on about this chart in the group with little reaction from members and I am not sure why.

I said that I was bullish on $MGM once it held the 0.618 Fib at $36 and it has held this level very well and now has jumped 30%....

$AI - WATCHLIST -

We have another stock here that is looking primed to move to the upside.

Wave 1 was not pretty, I need to start with that but they never are and waves can overlap here normally but Wave 2 is important....especially when it holds the 0.618 Fib as well as $AI has.

$AI spent Sept to Nov ...

$BAC

$BAC has probably been one of my favourite charts of the year, just because of all the turmoil surrounding the financial sector: regional banks collapsing, high inflation, high yields, inflation coming down and rates coming down.....but this chart was absolutely spot on since we started charting ...

$FSR

Made another attempt at breaking back into the wedge today at the opening but could not make a meaningful break out and could not get above $1.70, so it rejected and pulled back to the 50 Day MA again.

Consolidating sideways now since Thursday in a tight channel.

Worst case scenario i...

$LI - WATCHLIST -

$LI is at a strong confluence level now, the price is just at the 200 Day MA and the 0.78 Fib level at $35.

The 50 and 200 Day MA are also getting very tight here too....implying that a strong move is next.

If the price can get above the 50 Day MA at $36.45, we could see a strong move...

$ENPH - RC -

A lot of chat about $ENPH lately and we should not be surprised, it is doing what we expected.

The 200 Day MA is what we are watching for next at $148.

But we will not be surprised to see a pull back to the find support after touching this level, the blue line at $113 or the 0.65 Fib ...

$ONON

$ONON has been a big earner for many and has been tracking brilliantly for us.

Up 25% now since its low in Mid November and continues to push higher towards our Wave 3 target at the 1.618 Fib at $33.55

Very happy with this impulse wave and see Wave 5 happening in the new year at $35.7...

$BABA TOP 20

$BABA is making a nice move today, pushing towards its previous high level at $75.55, a break above this level and we are into our 5th wave since the potential bottom at $70, this is what we want to see, a bounce in 5 waves and not 3 waves.....if we only see 3 waves, then it would imply that this...

$PYPL TOP 20

$PYPL has bounced well today, it did not quite make it down to the 0.38 Fib level at $60.10 but the previous high level was at $60.44 and the price made it down to $60.80, so it certainly found an area of support and has bounced.

We still need to see more if this is just a Wave B bounce in ...

$NIO TOP 20

Let there be no doubt again about the success of Elliott Wave Theory.

$NIO holding the $7 line by 2 cents and not invalidating the impulse wave was remarkable and whats even more remarkable now is that the Wave 3 level at the 1.618 Fib is at $9.15....which is incredibly close to the 200 Day...

$SQ

$SQ is just approaching its channel trend line now at $77.20, we are expecting some resistance at this level since running so strong from $38.

It remains to be seen how much this will pull back but any notable pull back should attract more buyers here to $SQ.

We can see that $ARKF bou...

$ORCL - RC -

$ORCL has pulled back since June, unlike the other Large - Mega Tech stocks, even though their earnings have been a beat but they not performing particularly exciting numbers.

That being said, it had a strong start to 2023 from October '22 and ran from $62 on the 0.65 Fib to $128 in July '2...

$RKLB - RC - WATCHLIST -

Very similar set up here for $RKLB as it was with $RIVN before it broke out and bounced hard.

The price has held the 0.887 Fib at $4 since Sept and is starting to show movement of breaking out soon.

The price is still below the 200 Day MA at $5 but staying above the 50 Day MA at $4.45...

$GRBK - RC -

Tricky count here because I can not rule out both the impulse and corrective wave counts here.

The top blue line stopped exactly at the 1.618 Fib which is normally the Wave 3 target, which means that Wave 5 is not complete....but there is also 5 Waves up visible, it is not pretty but it is ...

$MARA - RC -

A lot of request for $MARA over the last 48 hrs and I suspect it is due to how aggressive it has moved and how short the Subwave 4 has been.

Subwave 5 at the 3.618 Fib looks to be the target here, since the price has now gone above the July high in the PM now.

Crazy to think that we w...

$IBM - RC -

$IBM is having a good year and has broke out into the Bull Case over the last few weeks.

The 0.618 Fib was a formidable support line from 2016 to 2023, with only one drop down to the 0.78 Fib in 2020, during the Covid shock crash but recovered very well.

So we can see that there has b...

$BMBL - WATCHLIST -

$BMBL is also at an important junction now.

It has broken out of its very long wedge after posting a positive earnings report, with their EPS beating by 64%.

The price is still below out resistance line at $15.60 but it tested the level today and showed signs of possibly breaking out ...

$EWZ - SAFE HAVEN - WATCHLIST -

We highlighted this chart a couple of weeks ago to bring your attention to a potential Safe Haven for next year, it is an ETF on the Brazilian market.

I highlighted that it was about to test its long trend line that has not been broken since its inception in 2010.

So this is a pivotal...

$RIVN

What a move this has been and what a chart.

Very happy with this and we absolutely nailed it.

We said the 50 and 200 Day MA were extremely close so a strong move was coming, especially after Wave 2 held the 0.78 Fib very well at $15.15.

But what we liked the most was the support...

$JPM

$JPM has made a 52 Week high this week and is looking very well here following our Impulse Wave, $172 is the previous high from 2021 and above this level the Bull Case is confirmed and our Wave 3 Target at the 1.618 Fib at $192 is likely next.

This is further showing the strength of the fin...

$COIN

$COIN has been holding up quite well considering many cryptos have pulled back for a breather over the last week.

The price action has been able to hold above the ascending triangle top level at $147 and has had a strong day today, up nearly 4%.

Wave 3 is still set at the 1.618 Fib as...

$BIDU

$BIDU has been moving better than most Chinese tech stocks over the last year, the price has held the 0.618 Fib very well and bounced in November, we are seeing a subwave pull back now, price needs to hold the 0.618 Fib again and $107.

If there is a rotation into Chinese stocks as the US de...

$CVS

Wedge breakout here so we have added in the First and Second Targets, the length of the breakout is usually the length of the largest width of the wedge, that is how we set the targets.

So far we can see that there is some resistance at the First Target level, a pull back down to the 200 Da...

$AMZN TOP 20

$AMZN moving as though it is not just adding $10's of Billions onto its market cap each day.

We are not surprised by this, they have been flooding the market with positive catalysts and even today they said that they will be able to provide satellite wifi to the world by 2029, similar to th...