The Long Investor

$PFE

I continue to like what I see here, just resting on top of the ascending triangle now, RSI has gotten out of the oversold territory and this is really where we want an RSI to be when we look for a reversal, not at 70, in the overbought territory.

I am watching for Wave 1 to form now and I can count Wave 2 and the rest of the subwaves.

For all the new members, I have started a position here. 

$GPS - NEW

I think there is big potential here, two things i've noticed, their sales are $15 Bill and market cap is only $3.5 Bill, which gives them a -$200 million income, the issue here is clearly their margins....this is an addressable issue that good management can overcome and their current P/S is 0.23, significantly low. 

Whether it holds here or comes down to Wave B, there is substantial upside, this is on my radar now.

$PTON

Could not find support at the 200 Day MA, we are looking at the previous low now as the next support, I still feel that the only option here for $PTON is merging with a larger brand, but at $6.60 and it can hold there, it looks to be a good price. 

$RUN

Their EPS earnings beat was astonishing, so is it difficult to see how this dropped so hard after their earnings, did they have money in $SVB maybe?! it's possible they had cash there that worried investors. It still looks like more pain is in store, Bulls will be looking for a break above the long trend line if they want any reversal here.

$TUP - RC -

Could not hold the blue support line I spoke about in my last chart upload of $TUP, so we spoke about it coming down to Wave C next. The chart looks almost too good to be true when it hits Wave C but the important point is that is absolutely needs to hold this bottom blue support line.

$OXY

Holding the Wave 4 spot at the 0.38 Fib, still has a bit to do but likely to continue higher for Wave 5 as its structure continues to be straight forward.

$ODFL

It has been awhile since I uploaded this last, I like the structure here, nice clean waves with clear resistance levels flipping to support and Wave 5 looks likely here next. 

$GME - RC -

Likely to open now with an enormous gap, the PM price action brings it right up to the long standing resistance line, this gap could fill straight away and consolidate through the wedge. But this is $GME and valuations and logic tend not to be considered here. 

$XRP - RC -

Has been performing well with a number of other cryptos lately, still more upside potentially, however today is an important catalyst for both stocks, bonds and crypto. The concern from this chart is the bear flag, will need to break out of this flag and hold above to assure that the bottom is in.

$SPOT - RC -

Not much has changed here, Wave 3 was a monster move, still likely to have a bit more to go before pulling back for its corrective ABC count, all looking very healthy tho. The smart move would be to add when Wave C is complete now.

$JD - RC -

No changes here, could not hold the the 0.65 Fib level and looks to be following our Wave B line, the previous low may act as support but it is likely to continue down to the channel support line, I believe at this price, at the Wave B point, it would offer significant value.

$COIN

I've added the $COIN subwaves of wave 3 now, approaching the previous high so it is a good spot to start pulling back to reinforce the impulse structure. A break above the previous high and the impulse wave is confirmed but I think it is very clear that this is looking very impulsive.

The only curve ball oddly enough would be, if the Fed completely banished the banking sector worries, this may move money back out of crypto and into the market. I think that is a long way to go.

$INTC TOP 20

The market really does not like parabolic moves and there are no exceptions between Small Cap and Mega Cap stocks, the market will always find a balance. Rejected here at the 200 Day MA and held then at the 50 Day MA, giving up a lot of what it gained last week. We will monitor this to see if this is the start of 5 waves down or will it try and test the high again.

$TSLA TOP 20

Very strong today on the news that Moody has upgraded their rating to investable now, the timing could not have been better for $TSLA. That being said, bear flag has formed and I am seeing this on a number of charts at the moment....so it is likely that the direction is still unclear yet.

We spoke before that the Wave 2 pull back had entered the Wave 2 zone, although not as low as many have lately, (the 0.618 - 0.65 Fib has been incredibly popular lately) this validates that Wave 2 can ...

$BABA

It is holding the important fib level now and finally the RSI got out of the oversold territory, after spending the most amount of days it has ever been under 30 since it went on the exchange. MACD has given its first glimpse of green since the end of Jan too....we know that a bounce is due, that is why we entered. Big tests above at the 200 Day and 50 Day MA, so hopefully it can build on this momentum now, $BABA should be a safer buy right now over many US stocks.

$SPY TOP 20

We are in uncharted territory as the market grasps with the influx of announcements about either the banking system or the impact of interest rates on  inflation and the economy. Yellens announcement today that the Fed are looking for ways to secure all deposits in all banks is bizarre to me, this does not sort out the issue that many banks are having now, many are already needing money right now, so if the FED decides to move to a QE approach again, how will that impact inflation?....wh...

$NIO TOP 20

Ok the top chart is the chart we use daily for updates and the bottom chart is a shorter time insert of our 5 year long term chart.

Let's start with the top chart, into an ascending wedge and stopped at the 200 Day MA and at the 0.78 Fib level, on the 5 min chart, it actually finished outside the wedge but only very little. So let's plan that it is still in the wedge. RSI on the 1hr chart is showing well into the oversold territory and starting to turn down.

The bottom chart, the ...

$MRNA

Perfect example here of 5 waves down after finishing high with Wave C, back to back negative earnings after Covid worries dissipate. This is why I like $PFE now, it has moved onto to the next market and bought Seagen and we are getting it at a low price. $PFE will always be prepared for the next crisis.

$NU

It's been a wild ride for $NU as it continues to go through its ABC count in large fluctuations but still following our count, in spite of this, good earnings report should push this up still to complete its count before coming back down.

$PATH - RC -

This leading diagonal impulse wave is still working its way through Wave 5 now, needs to break above the previous high to finish so I am still expecting this and next will follow the ABC count. This whole structure looks impulsive so it is all behaving as it should.

$TWLO - RC -

The move has not been pretty since getting rejected at the $79 resistance line but Wave 4 is still in play here, will need to hold the next blue line, just below the Wave 4 point. Below the 50 and 200 Day MA now so it has a bit of work to do. 

$SPCE - RC -

Difficult to see any other trajectory here for $SPCE, breaking down through some crucial levels and on track to complete Wave B...back to back negative earnings and delays has not helped here.

$ADYEY - RC -

I can see a valid corrective wave complete from an ABC count, however Wave C was very short but just valid. Two negative earnings in a row, it is showing some strength but it is possible to move sideways until the next earnings. Bull case is above $19 however.

$TCEHY - RC -

The last time I uploaded this chart was on the 10th of December and have not touched it since and its remarkable how exact it has followed our projection, I have taken out unnecessary levels for a clearer picture. 

$NIO TOP 20 UPDATE

Ok three points to make:

1.) This did break out of the downward channel after testing the lows again, three times it has tested this level and has held. The bounce was parabolic for $NIO so we knew a pull back would come, still finished a respectable 5.5% up for the day.

2.) On the 2hr chart, the 50 Day MA (in blue) has been the resistance line since the breakdown at the start of Feb when it failed to get back into the bear flag and has been downtrending since, I have marked with ...

$AAPL TOP 20

Just at the top of the ascending triangle now, will be watching to see if this rejects or breaks out and holds. Of the mega cap stocks, this is looking the strongest as we said yesterday too...$TSLA has retested its resistance line today and got rejected, so let's see how $AAPL gets on.

$PPD - RC -

No changes to our chart but earnings came out today and although it was a double miss, it wasn't by very much but guidance was poor. From our chart, we could see before the earnings that the likely trajectory was down either way. It will be a large drop if this completes to Wave B so the 200 Day MA below will need to try and act as a support level, we can look at this again shortly but for now, the chart remains unchanged. 

$SOFI

Leaning more and more into the Bear Case now for Wave X and the buyers will need to step in at Wave X to hold support or it becomes quite risky below this support level. Not adding a buy zone in here yet because I need to see more stability, the only bank/payment stocks I would consider buying when the dust settles is in $JPM, $BAC, $SCHW and $PYPL but I do not consider $PYPL a bank. $SOFI would then be behind these 4 because I do like their potential but they are likely to come up against a ...

$PYPL

The yellow trend line continues to be a stubborn resistance line for $PYPL which works out well for us as we wait for this to fall into our buy zone. Below 200 and 50 Day MA now, more than likely still affected by the uncertainties in the financial sector, as the market assesses whether or not this is at risk of being involved.

$TSLA TOP 20 LONG TERM

Repost for a quick reference.