The Long Investor

$AMD TOP 20

Very positive bounce after the $MSFT partnership was announced today, from my previous chart, I said it could dip below the blue line but could not go lower than the 0.78 Fib, I liked seeing the bounce today, which reinforces the belief that you must give a stock every possible chance to stay val...

$SQ - RC -

Good earnings report today, it has declined all the way back to the short report low and what can not be ruled out is that the Right Shoulder of the H & S is only completing now, this would make the Right shoulder larger than the Left but this is valid and they found support at similar levels...

$HD TOP 20 UPDATE

Wild swings from $HD but following our trend, made new lows today which reinforces our direction and I am happy to see, I am watching the amber line now at $279 to see if it can hold, regional banks in trouble are likely to effect $HD so we should not be surprised to see this movement. 

$ZM

Break out of the bull channel now and just at the 50 Day MA on the 1hr chart, holding in the buy zone and showing strength too and a break out is positive, we want to see more of this....it is a difficult market right now, so seeing a move like this considerably positive sign. 

$NIO TOP 20 UPDATE

Really good movement from $NIO, glued to our Subwave 4 line and behaving as expected, let's remember that the price action does not need to be exact, it's amazing when it does but we focus on the trend at all times and I happy with what I see, the long downward movement from $10 to $7.34 is a hal...

$SCHW - RC -

I have said since the banking issues began in late feb/ early march that I am not convinced that the issues will end quickly and have said that I see more downside, this is happening now.....regional banks are in utter devastation right now too, none of this is good and I am sorry that it appears...

$TAN - RC -

Little changes here too, the important note is that it has not held the support trend line that it has held since May 2022, this is not a good sign, as the 50 and 200 Day MA have been lost too, there is considerably a lot of downside here too if it can not find support soon. Targets below shown h...

$SE - RC -

Continues to work its way down our Wave 2, approaching important Fib levels next, Wave 2 always has 3 Waves as part of its structure, so we need to see this for Wave 2 to complete, so far there is clearly only one wave visible, so a a bounce is due before coming down further to complete Wave 2, t...

$NVDA

The stock that just does not want to pull back....ultimately it has to pull back but when, it is certainly unclear. For now, we can only watch it move through the bear channel, bouncing from support and resistance levels, it continues to hold above the 50 and 200 Day MA. $AMD is at an important p...

$GM

I have labelled $GM as an alternate to our $F chart, which is in our Top 20, so if you are not a fan of $F, you may consider $GM, as both charts are following each other very similarly....both losing critical support levels and coming very close to our bear case and buy zones.....I am leaning mor...

$DRV - RC -

When the market struggles, $DRV will do well. So another hold of the important low support line and showing signs of testing the 200 Day MA, a break above this level and it can hold support on the 200 Day MA and this is in a strong position.....it also likely means that the market is coming down ...

$DNA - RC -

Likely Subwave 3 is complete now and this bounce is the initial part of Subwave 4, as we know, Wave 4 always has 3 waves in it, ABC. So Subwave 4 is not complete yet and next we want to see it complete and then watch for Subwave 5 to bring this down to our target level shown.

$CVS - RC -

Nothing has changed here but I have removed the bullish scenario, as this is comfortably in the bear case, it had attempted to hold the First Target support and initially it was successful but sunk after a positive beat on earnings, so it continues to be a tough time for $CVS.

$AMD TOP 20

A positive beat on their earnings but parts of their structure has not been performing as well as they hoped, so the market reacted tough on them. Wave 4 is still valid, as long as it does not impede on Wave 2 and if we see where the 200 Day MA is, it is looks like it is meeting the .78 Fib, whic...

$NET - RC -

$NET is struggling here since its earnings report, it has not been getting a bounce that we normally see after sinking this aggressively, I have added in a blue line support as this has been an area where support has come from in the past. 

The MACD is showing some signs of reversing b...

$TSLA TOP 20

Still following our chart to the money, struggling to get above the yellow line but Subwave 4 could be complete here. This is 3 rejections at this yellow line now which was a previous support and now a resistance line, so we will watch to see if it can break above this line next. For now, we will...

$TDOC

The structure is starting to lose shape here and just finished the day under the 200 Day MA, today was going to be a difficult day for many stocks, so I want to see how the market potentially recovers tomorrow, I certainly do not react to intraday moves, I wait for the trends. This overall struct...

$SPY TOP 20 UPDATE

Very little to report since the main update over the weekend, struggling today after the Fed decided to raise rates by 0.25% again....I personally did not think it was necessary, as I would be more concerned with the pressure the regional banks are under. 

My concern here is that the F...

$PLTR TOP 20

$PLTR just holding on this red line that we spoke about before, below the 50 Day MA and a good bit below the 200 Day MA, when the 50 Day MA moves down, it may put more pressure on $PLTR to lose this red line support and then the big test next is the blue line, below this line and we are into the ...

$OXY

Pulling back now and working its way through the Fib levels, struggled to hold the 0.618 Fib which is something I never really like to see, however, considering the importance of this week, I am not too surprised to see many stocks under pressure. I am watching for the 0.78 and 0.88 Fibs at $57.8...

$FSR

Rejected heavily at the blue line that we spoke about in the last update, flipping this blue line from resistance to support would have been a strong show of strength, that being said, it held the wedge line when it came back down and has bounced very well today, staying in the wedge now is posit...

$DAL

Holding above the bull flag still, in spite of a lot of red across a number of industries, so I like to see this strength, this is a stock I like and its set up. This will be a stock I intend to hold for long term and add on any substantial dips, their CEO always looked after their shareholders b...

$COIN

Looks like it is under a lot of pressure from sellers and it has dipped below the red line, went back up to retest and now has rejected again as the market is looking weak again. I don't recommend rushing in here for now, I think it will be very attractive as it moves lower but it is certainly st...

$NIO TOP 20

Getting some relief today after a relentless decline, bouncing just on top of the buy zone, and then getting rejected by the 50 Day MA so far on the 1hr chart, I want to see an ABC count complete now for Subwave 4 so we can move down lower next, so I am happy to see this move up to $8 or so befor...

$CRWD - RC -

I added the Subwaves to the amber Wave C, pull back at the moment looks to complete exactly at the earnings report release on the 2nd of June. So a positive earnings here could move this nicely to Subwave 3.

Alternatively, negative earnings and this comes down to test the previous low at $9...

$BMBL - RC -

Difficult IPO for $BMBL, it has been trending down since March '21. The good news is that it is moving through a descending wedge as it approaches the blue support line from the previous low.

Breaking out of this wedge would be a positive move but this must hold above the blue support line,...

$DOCU - RC -

Broke out above the descending wedge and hit our first target fine, it then hit the first target 3 times and rejected each time, this is usually enough to confirm that this line is a resistance line. It has pulled back aggressively since then and working its way down the Fib levels now, the bull ...

$BABA

Lost its momentum today, it was a red day across the market but we wanted $BABA to hold the 0.88 Fib, the next support level is the previous low at $79.

If this support is lost, this will likely move down to the blue line next at $71.

My plan now is to hold regardless and if I can buy...

$CHPT - RC -

I have cleaned up the chart and removed the impulse wave as the count is not following that but is following the corrective wave clearly. This is at the blue support line now and the previous low, it is important that this holds, however, I cannot guarantee it will as the timing is not great and ...

$SOFI - RC -

Earnings today and it was a double beat but the timing could not have been worse for $SOFI, the regional banks are having a catastrophic day and $SOFI is embroiled in this. The earnings were good but there is some concerns as there is certainly a lull in loan sales, this is to be expected when in...