The Long Investor

$F TOP 20

$F in one week has made a deal with UAW with a substantial pay increase for its workers, it had its earnings yesterday which was a double miss, it has lost its trend line support that has been a support level since June '22 and is now below its blue line which means it is into the bear case and Buy Zone.

This has been a busy week for $F and they have also stated they will be reducing their EV productions for now....which is a strange mov...

$ONON

$ONON continues to hold quite well between the amber 0.5 Fib and the amber 0.618 Fib which is a typical Wave C ending point.

And again it is another stock that is in a position to move higher if the market suddenly decides that it is time to go higher.

The 5 impulse waves up has been immaculate and the 3 ABC waves down have been perfect.

Lets see if this can continue holding support until the market can figure out its next mo...

$BAC

I think we are getting to a our very important point for Banking stocks now shortly.

$BAC keeps getting rejected by the moving averages and lately it has been the 50 Day MA which has been causing the most amount of problems.

$BAC is fastly approaching its 0.78 Fib and it will need to start showing support very soon. Below the 0.78 Fib and the chart is showing a lot of weakness......the Covid Low level is at $18, so if the 0.78 Fib ...

$LUV

Has come within a few cents of its Covid Low from May 2020 today. An astonishing position to be in for a company like $LUV

A company that had a TTM revenue of $4.3 Billion at the start of 2020 and now has a TTM revenue of $6.5 Billion with increasing margins too.

There is a clear disconnect now.

Oil and the Middle East conflict is likely affecting the industry now too but it should not be to this extent.

I am looking fo...

$AMD TOP 20

$AMD is up over 2.5% today, likely brought up by $INTC's strong earnings performance and we can see on the chart that it has so far found support on the 0.5 Fib at $93.62.

The concern here is that this is back in the wedge again, having not held support above it.

So we will need to watch to see if the 0.5 Fib is the final support level or this comes down to the bottom of the wedge again or the 0.618 Fib.

$BYDDY - RC -

$BYDDY in spite of performing very strong production wise over the last few years, the share price has declined along with $TSLA and is still down from its highs that were reached in May 2022.

This is quite a complex chart right now and there is no clear direction.

The same goes for $TSLA too, it is at risk of coming down further and I have Wave C finishing on the 0.618 Fib at $37.80. However, if $BYDDY can make a new higher high a...

$INTC TOP 20

$INTC was on the ropes yesterday, went all the way back to its 200 Day MA and on its last chance, $AMZN and $SPY were also very similar, in difficult positions.

Strong earnings report beat with EPS beating expectations by 86%. Revenue also beat expectations by 5%.

The share price has jumped all the way back up to exactly at the ascending triangle trend line, anyone surprised by this?

Let's see how the price handles getting ba...

$AMZN TOP 20

$AMZN really delivered for us last night with a stellar earnings beat. EPS increased by 60% and what I was most impressed about was their increase in net profit margins to 7.8%.

In March before I started buying $AMZN, their margins concerned me but having dug deeper into their fundamentals, it was clear that they were using their revenue to expand, at the expense of profits (why pay tax on profits when you can use that money to expand?) ...

$NIO TOP 20

A well needed green PM across the board right now.

Something the market has not been familiar with for the last 10 Days.

$AMZN and $INTC being the main drivers behind this green PM I believe, both of them reporting impressive earnings yesterday.

We will still behave cautiously for now with regard the direction of the market, a PM does not tell the full story, a strong finish to the week will be encouraging going into next wee...

$OXY

Buffet bought more $OXY shares this week, $246 million worth, adding to his already large pile.

Berkshire now owns 25.8% of $OXY right now and he is hedging himself against a weak market and an increase in oil price....which is what we have been doing for the last few months too and enjoying a dividend payment from $OXY.

$OXY is not spoken about in our group much but I am a big fan of it and where they are going in the future.

$FSR

$FSR right down now testing its June low at $4.80 after dropping out down out of its ascending triangle. 

A failure to hold this level and the price will come down to its All Time Low line at $4.26 which was hit in April.

I have not considered adding to my $FSR this year but if it comes down to test its lows again, I will likely add to my position.

I have been holding $FSR for years now and have no intention of selling t...

$NVDA

$NVDA is also at a critical point here now too, it is just at the lows of the shoulders now and losing this level and it will likely come down to the gap area which starts at $366.

The 200 Day MA is cutting through the Gap right now, so this could offer some support but I find it hard to believe that the gap won't be filled once it is entered.

Again, as it is with $META, a pull back here is not a bad thing for $NVDA, it has been pe...

$QQQ TOP 20

$QQQ has dropped out of the bear flag now and moving close to the 200 Day MA, we are seeing a lot of this on many charts right now as we await $AMZN's report.

I think it is a little too close for comfort right now.

Either the market is trying to get maximum value of the price or there is real concern that a breakdown is going to happen.....we are hoping that there is support found above the 200 Day MA.

Please, do not make any...

$LI

$LI has also been immaculate, Wave 4 pulled back stronger than expected but the structure never lost any shape and the 200 Day MA has been acting as a potential support level if needed.

$XPEV, $LI and possibly $NIO are holding crucial levels right now......although $XPEV and $LI certainly look stronger, but lets see if they can all rise together.

Theoretically,  if US stocks are struggling due to their domestic macro condition...

$XPEV

What I do like about $XPEV is how well it respects EW Theory and how disciplined it behaves on the Fib levels.

The chart has been completely accurate and very neat.

Ideally we wanted $NIO to behave like this......but $XPEV's management have been better, especially getting that VW deal, it has been all the difference I believe.

That being said, I believe $NIO is still a better company but $NIO is a premium maker with better ma...

$IONQ - RC -

$IONQ has done as expected and in a controlled manner too, with very little surprises.

It is at a very important confluence level right now, at the 200 Day MA and the 0.618 Fib.

This is the ideal level we want to see $IONQ hold support so it can start moving higher next and continue up its impulse wave.

So this is another company needing the market to play its part too and if it can, I see no reason why $IONQ can go higher. 2023-10-26 15:54:00 +0000 UTC View Post

$CLSK - RC -

$CLSK has been showing some nice impulse moves since finding support between the amber 0.618 Fib and the 0.78 Fib and has bounced from $3.40 to $5.10.

I can see 5 waves up and a pull back now, so this is likely in its Subwave 2, ABC correction, down to the white 0.618 Fib, this is moving very well, controlled and measured.

There is no doubt that the crypto companies have been a beacon of hope for many right now and as long as they ...

$DIS TOP 20

Timing has not been great for $DIS, they needed to find some bulls and with the market the way it is now, they were not going to find them.

Price is now back into the wedge again and likely will test the Covid Low line again at $78, another example of the market always giving another chance.

It is crucial that $DIS finds support on this blue line again too.....because a failure to hold here and this will come down to the red line f...

$SE TOP 20

Ok this has played out how we expected and we got our retest on the 0.618 Fib and so far it has held support and bounced.

The bounce has brought this up to the 200 Day MA on the 1hr chart to $42.

The bounce is welcomed but we want this to make sure it stays above the 0.618 Fib or the blue line at $40.60 and solidify this level as a strong support level, as it has done since late Sept.

The market holding its critical support s...

$AMZN TOP 20

I can not emphasise the importance of $AMZN delivering a strong beat after the close today.

The market really is on a knife edge and it needs another big $MSFT performance to help this.

$AMZN has came right down to our second Wave 4 target which we placed just above the 200 Day MA.

The 200 Day MA is at $117 right now and the price action came right down to $118.35 at the opening today.....this is as close to a test as we will...

$NIO TOP 20

$NIO has not done much since Wednesday the 8th and has been keeping tight within this range under the 50 Day MA and the top of the buy zone and we can also see it is in a bullish descending wedge here too.

Performing relatively well today with other Chinese ADR stocks, so this is always welcomed.

We need something to act as a catalyst here to move this direction and get this testing above the 50 Day MA and the top of the wedge line...

$LLY - RC -

$LLY got a strong bounce on the 50 Day MA at the start of October and it decided to go big and go for the 4.618 Fib at $625 and it did manage to go that high and go all the way to $629 but as we have seen this before, that a price action has never stayed above the 4.618 Fib without a strong pull back needed first.

$LLY has gone parabolic all year on the back of its very successful fat losing drug which appears to be in strong demand in t...

$ENPH - RC -

Reports after the close tomorrow and is in desperate need of a catalyst to turn this around.

If we look back at their earnings reports, it is showing that they have beaten on every report for the last few years but on closer inspection, just barely with smaller margins and concerns.

If the market does not like this report tomorrow either, this could sink further, potentially to $80 on the blue line or below to the 1 Fib at $73.

$GPS

A rare completed impulse wave at the moment, $GPS has made it to our Wave 5 target and it is not clear whether or not this is now complete, it could still go higher before moving down for its ABC correction.

This impulse wave has not been pretty and usually leading diagonal impulse waves are not but regardless, it has completed our projection in a very difficult market too.

A pull back next to the 0.618 Fib should offer more opport...

$DAL

I have still not bought any airlines stocks since this aggressive decline but I would be lying if I said I have not been thinking a lot about getting in.

$DAL is behaving like all the major carriers in the US right now and has declined all the way back to $30 from $50.

It is also approaching its 0.618 Fib too, with $LUV expecting to report on Thursday too.

This would mean that all 4 of the biggest carriers have reported and a...

$F TOP 20

Some late in the evening breaking news, it appears that UAW and $F have a tentative labour deal in place and could be presented to the workers asap. This is as a 6 week aggressive strike that could not have come at the worst time for $F's share price.

AH is up a 2% but what holders want to see now is the yellow trend line recaptured at $11.50.

Flipping this to support could mean that the bottom is in.

Also, the details in the...

$MELI - RC -

$MELI is showing signs here of beIng in its Corrective ABC wave. Our potential Wave 5 made a new high so the impulse wave is valid, even if it was a little short.

We can see now that the price has pulled back considerable and is already below the 50 and 200 Day MA.

The price is also testing the 200 Day MA from below too, a rejection here and we could see this move down to the 0.5 Fib where Wave A is.

Bulls will want to see th...

$VIX

How the $VIX is only at 20 now after all the volatility in the market over the last few weeks is somewhat of a surprise.

We do not want to see the $VIX go higher and we can see here that it has rejected at another trendline at $23.20.

We will continue to monitor this but the battleground appears to be around 20 and while this stays above the 50 and 200 Day MA, it is at every risk of going higher again to test the trendline above. 2023-10-26 00:59:59 +0000 UTC View Post

$RBLX - RC -

$RBLX is showing a double bottom here on the 0.887 Fib at $25 and has bounced quite well and has managed to get back into the wedge too and has been using the wedge line as support since breaking back in.

This is a good sign and the price is above the 50 Day MA too.

I think a lot of stocks will struggle to move higher if the market is struggling but $RBLX appears to be positioning itself in a good area to move higher if the market ...

$ARKK

$ARKK has moved all the way down our Wave 5 target now and it continues to show weakness with very little signs of support being found. I think it is reasonable to suggest that that the blue line again will be tested at $30 as a potential support line.

I have been quite tough on $ARKK and probably for the right reasons but the truth be told, a lot of funds are struggling right now.

Many funds have finance stocks as they are normall...