The Long Investor

$SBUX - RC -

In a worrying position here for a number of a reasons, first of all it is glued to our corrective wave C.

The price action broke down back into the wedge after its earnings report in May, it then retested the upper limit of the wedge again and got rejected.

It then lost the 50 and 200...

$MP

More positive movements in the PM here, I can see the price action moving higher to our Wave 3 which will test the 200 Day MA at $27.50 over the next while.

What the price action does not want, is to be rejected at the yellow line at $25.80, which it stopped out last week and this line was ...

$LCID - RC -

Managed to pull back to between the 0.236 and 0.38 Fib Level only and now showing its head just above the channel line now, if this can hold above this yellow line now at $7.50, it can be confirmed that Wave 1 is starting now.

$ENVX

Simply beautiful this chart has been.

Since Wave 2 completed at the 0.65 Fib, this has done exactly what was expected from it, breaking above the 200 Day MA and then finding the support above it was the sweet spot.

$SOFI

I like what I see here from $SOFI, pulling back in a controlled manner, into a descending wedge, the 0.5 Fib at $7.33 would be the ideal place to hold and bounce from, right on the bottom yellow trend line, we can also see that the 50 Day MA is moving up to this level too.

A lot more upside...

$DAL

$DALs earnings on Thursday before the market opens.

We can see that after the previous earnings report, this started an incredible run for $DAL, so I expect a positive report with a good guidance for the year but we need to be mindful that this has bounced almost 50% very quickly and will n...

$NIO TOP 20

We want to basically see this head and shoulders pattern play out, Wave 5 did not go all the way up to the yellow trend line, nor the previous high and $10.74, so the Fib levels are slightly lower for Wave C but once we are in Wave C, I will be considering adding as it moves down.

So no cha...

$BABA - COTW

A lot of eyes on $BABA so this is the chart of the week. +8% gain on Friday and more importantly a break above the blue line, I am looking to add here again and a retest of the blue line would be the ideal position here to add.

We can see that the 0.38 Fib is exactly on the blue line here a...

$AMZN TOP 20

Moving sideways over the last 2 weeks but still maintaining the 1.27 Fib level, so likely in a channel here, I am not seeing much weakness however, I believe it will still move higher to complete Wave 3 at its 1.618 Fib along with $AAPL before pulling back.....the more I research $AMZN, the more ...

$SPY TOP 20

I have added in the ABC corrective wave after Wave 5 completes. A correction will need to come at some stage but at the moment, the market is being propped up by a number of strong players and they do not appear to be getting weaker either.

The ABC correction is created by using Fib levels ...

$PLTR TOP 20

Very little to update here either as this has been pulling back as expected and we can see that the RSI and MACD showed a strong trend reversal and we expected this at $17.15.

The plan remains the same here, we want to see a substantial pull back, certainly below the 0.5 Fib to consider a p...

$TSLA TOP 20

There is a lot of talk online about this top yellow trend line, many believe it will reject at this line and finally come down, after two very strong runs since the start of 2023.....credit needs to be given where it is due tho, every time $TSLA was doubted, it comes back stronger and has broken ...

$MSFT TOP 20

$MSFT is still struggling to get above its All Time High Line and we can see that $MSFT has not quite pulled back as far as $GOOG has and it certainly lagging behind $AAPL now, so as long as it struggles to break above its ATH Line, Wave 4 is still a possibility there and $319 remains the Wave 4 ...

$KO TOP 20

The WHO leaked report is still playing on the mind of investors here, earnings report is on the 26th of July and it can't come quick enough I think.

The price action is still under threat but has not lost structure yet as it remains above the previous low at $59.40

The lowest price it...

$INTC TOP 20

Came down and tested the yellow line at $31.30 this week which was at the 50 Day MA exactly when this happened.....it always amazes me how these fixed resistance/support lines which have been on my chart for months can coincide exactly with the 50 and 200 Day MA's at the right moments. The price ...

$HD TOP 20

Showed some weakness towards the end of the week but still managed to finish the week holding support on the 200 Day MA.

I have set Wave 4 completing here. If the price action goes below $298, the structure becomes invalid and the price is coming down....a lot. Possibly testing the low agai...

$GOOG TOP 20

Remains the clearest Wave 4 pull back from all of the Mega Cap Stocks and still the most value in terms of PE and FW PE off this group too.

I have added here during this pull back and the 50 Day MA on the daily has been doing a great job acting as support too.

If the price can pull ba...

$F TOP 20

Difficult to tell whether this has completed its Wave 5 yet....I suspect it hasn't as $TSLA still has a little more to climb before a massive test, which we will see shortly on its chart, so the car industry may continue to rise with this momentum,.

So I believe once $F hits its First Targe...

$BTC TOP 20

Having a difficult time breaking above the yellow line again and a number of consecutive red days to follow which is what we expect as we still want this to pull back a little more to complete Subwave 2 before going higher.

The 50 Day MA is just at the 0.5 Fib level in white at $28k, so thi...

$AMD TOP 20

Held the 50 Day MA on the daily and creeping up now to what we believe is Wave B and a further leg down next for Wave C to complete this larger Wave 2 before going up higher.

MACD is showing a plateau so the price action will likely continue to bounce higher to complete Wave B at hit one of...

$AAPL TOP 20

Very little in terms of updating this, I haven't had to touch this chart for weeks now, still in track to hit our Wave 3 target at the 1.618 Fib at $197.

We always set the Wave 3 target at the 1.618 as this is the most commonest place to pull back for Wave 4.

Earnings on the 2nd of Au...

$BAC

Triangle formed here with the blue neck line continuing to offer resistance.

We know that with $F and $COST, their triangles broke to the upside but they did not have a strong resistance level cutting through their triangle.

Nevertheless, a break to the upside and this will flip bulli...

$JD

$JD is another company that could benefit from positive sentiment towards Chinese stocks and is closely linked to $BABA, although I much prefer the $BABA chart. That being said, higher low found here and held the 0.78 Fib level for potentially Subwave 2.

The price action has not quite held ...

$AAP - RC -

A very difficult chart to look at if you are holder here, losing the Covid low from 2020 was not a good sight and rare to see.

It needs to hold the yellow historical support line which is at $62 and stay above this line, a break down here and $24 is possible which is the low from 2008.

$LSPD - TSX - RC

Breakout here from its wedge and so far retesting the wedge from above and held above the wedge so far, we can see that the 200 Day MA is just at the wedge line too which may offer further support.

We can also see that the 50 Day MA is starting to curl upwards on the daily chart too, we kno...

$APPS - RC -

No changes to this chart that I uploaded in the middle of June, I still see this moving down this wedge. It first needs to get above the 50 Day MA, the blue resistance line and break out above the wedge to confirm a reversal.

Earnings on the 7th of August so this will need to be good to cha...

$RIOT - RC -

$RIOT held the 1 Fib line, common for Wave 4 and just took off, likely in Subwave 3 of Wave 5 now. Corrective wave is now eliminated of course.

Overall a very structured impulse wave here and followed EW Theory perfectly, so I expect its ABC corrective wave to be next after completing Wave ...

$RVNC - RC -

The last time I uploaded $RVNC was in April, I showed that this would hit the blue line and reject and I have attached the 2 charts above, the price hit the blue line and rejected very aggressively. The price has lost the 50 and 200 Day MA very quickly too and is on track to continue down to our ...

$SQ - RC -

I believe we are in Subwave 2 now of Wave 3, so far I can see two smallers waves with a lower high, which is what we would expect from Subwave 2, since we want to see 3 corrective waves. So I have left Subwave 2 where it is, finishing on the 200 Day MA again before going higher for Subwave 3 of W...

Reminder

Folks, I am getting a lot of messages and comments from members asking 

'When to buy?'

'When to sell?'

'Where should I set my stop loss?'

'Is this a good entry point?'

'This is my average $XX, should I add to my position or cut my losses?'

Unfortunately I ...