No changes here, rejected at the bull case line so far which was the previous high, it may have another chance to test the line again, if not then 5 waves down in amber is next.
2023-03-02 10:50:39 +0000 UTC View Post
Pulling back now to a very familiar spot we have spoken about a lot lately. It is just sitting on the 50 Day MA now on the 0.5 Fib, we know that it can come down to the 0.618-0.65 Fib which is the likely spot for a bounce.
To be clear, a pull back can come all the way down to the 0.88 Fib and still be valid for a Wave 2, when it does come down this far, its not particularly strong but nevertheless, the count is still valid.
Failure to hold the previous low, and Wave B in red is...
5 days ago after earnings I said that this is looking good, if it can break out of the channel and hold, it has a good chance of following the bull case....it has held above the channel now.
2023-03-01 20:16:21 +0000 UTC View Post
Testing time for $MARA, will it find support at this wedge trend line and bounce or break down?...both options here are at 50/50, next few days will be important.
2023-03-01 20:07:34 +0000 UTC View Post
This chart does not look great, its impulse wave up had its odd moments but still behaved according to the rules of EW Theory, and the moment it hit Wave 5, it came crashing down. I am seeing dilution issues but overall, I do not see what the reason for this aggressive drop, anyone who is more familiar with $MMAT be able to add in what catalysts caused this?
2023-03-01 20:04:29 +0000 UTC View Post
I uploaded this in Mid Feb and we showed that it would pull back to the wedge trend line, it is testing the support now, so far it is holding, if it can add to this strength, it may bounce nicely.
Unable to hold the wedge and this may come down to test the previous low at $4.
Interesting to watch how the VIX can pull back and hold at the 0.65 Fib and bounce, Subwave 3 of Wave 3 is always the most aggressive and that's what is potentially next so I am watching this closely.
2023-03-01 16:24:13 +0000 UTC View Post
Looking very structured and above the trend line, will need to stay above and show support above now. A long way to go but so far, it's looking good.
2023-03-01 16:13:46 +0000 UTC View Post
Broke down below the previous low, $1 is in its sights now, this has followed our chart perfectly since $2.26.
2023-03-01 15:43:01 +0000 UTC View Post
Watching for the reversal now after coming very close to the 1.27 Fib level.
2023-03-01 15:27:06 +0000 UTC View Post
It may test the bear case line very shortly, we want to see it break down, so we can get this at a terrific price in the buy zone.
2023-03-01 15:25:09 +0000 UTC View Post
Outside of the wedge again and the 50 Day MA is above at 399. If this acts as a resistance, we could see this move down again, from what we can see here, I am still leaning bearish because there is very little bullish indications right now.
2023-03-01 14:22:02 +0000 UTC View Post
The bull case is still active and the pull back has so far been controlled, at an extended Fib level now (outside the standard 0.38 - 0.65 Fib levels, where we expect to see a Subwave 2 of Wave 1 bounce) it will need to hold one of these remaining fib levels from the chart to hold onto the bull case. Failure to hold and this could consolidate sideways for the foreseeable.
2023-03-01 14:16:53 +0000 UTC View Post
Rejection at the upper blue trend line and pulling back, if it can hold above the previous low then this can still count as Subwave 2 of Wave 3, failure to hold above then this will continue down to Wave X and it will need to stay above the blue low line.
2023-03-01 14:08:15 +0000 UTC View Post
Impulse Wave 5 could be complete now as it touches on the upper trend line, I expect a pull back shortly, this would not be a company that I would be buying now for long term, not until we see a substantial pull back for Wave 2.
2023-03-01 14:04:03 +0000 UTC View Post
Still no changes here in spite of a negative report, it looks like there is still one more leg up before a larger correction down.
2023-03-01 14:00:39 +0000 UTC View Post
Airlines could be in a strong position as the recovery bounces back, I have seen personally the strong demand in air travel, the concern would be if a recession does hit in mid summer, will this reduce spending on holidays,?! so this chart may reject before the bull case and bring this down to complete Wave C, above $45 here and it will be in a strong positive position.
2023-03-01 10:24:23 +0000 UTC View Post
Bad earnings and is getting beat up in the PM, the blue line and bear case will be the final support line, will need to hold here, no other changes here except that Wave 5 is expected at the blue line now. Earnings in May will be important to show they are making progress.
2023-03-01 10:17:59 +0000 UTC View Post
Earnings are just out, mixed result and a lower 2023 production guidance, down now -7% in PM, in line with our chart.
2023-02-28 21:27:26 +0000 UTC View Post
No changes to our chart, we spoke of the importance of holding this Fib level and it has held and bounced here, it is possible that Wave B (in amber)could be complete now but it is not a clear ABC count of Wave B yet, that being said, once it holds above the .238 Fib, it is behaving like a Wave B in terms of pulling back to this fib level, one more pull back may be enough to verify the count.
2023-02-28 21:24:45 +0000 UTC View Post
Broke down from the wedge here, the trend line has been holding since the December, if it does not hold the previous low, the targets below are possible.
2023-02-28 21:19:05 +0000 UTC View Post
The market appears to have its eye set on the gap fill to the 0.65 Fib. we spoke about this last week. The pull back has been controlled and measured, slow increments each day, so we can keep an eye on this without expecting any wild swings. I am a fan of $BABA, if we see support here at the 0.65 Fib, I will consider adding.
2023-02-28 21:14:53 +0000 UTC View Post
Flat for the day and no rally leading up to earnings, the PM could be more active though, like I explained in the Telegram group, I did not add Nio today, we are in the bear case, below $9.50, below the 50 Day and 200 Day, the trend is clear.
If NIO announces an incredible earnings and this shoots up in the PM tomorrow, it will leave a gap and from what we have seen lately, in particular today from PLTR, these gaps are getting filled, we will have time to enter a position, even with a ...
We have been waiting for the gap fill to $7.80 and it hit just now and subsequently exactly at where we set the Wave 2 to complete. Now $PLTR needs to see a bounce or it will lose its impulse count.
2023-02-28 20:58:20 +0000 UTC View Post
Earnings after the close today, no changes to my chart, like I said in my last chart I left the bull case count on the chart, in spite of me thinking this stock is trash which is a good practice to remind ourselves that the chart does not care less about mine or anyones opinion, the count is what it is.
Let's see what's in store later on, Second Target in red remains on a potential target if earnings are poor.
This is a technical analysts dream. ABC wave down in red, into a large wedge and coming down to the 0.65 Fib and bouncing, to then break out of the wedge....if every stock behaved like this, we would all be very wealthy very soon.
Looking for the pull back to continue to Wave 2 now, looking like it will meet the 50 Day MA, and we want to see a hold here and then bounce for Wave 3.
Earnings roulette has gone in $ZM's favour, 7% up in PM now, so this may open with a large gap, this will more than likely fill over the next day or two as we have been watching this happen with $TWLO, $PLTR and $ABNB, and if $ZM is a company you like, this gap fill is a very good position to add, the gap will fill to about $76. Earnings reported an EPS increase of nearly 50%, nice beat!
2023-02-28 12:55:07 +0000 UTC View Post
Like a lot of the established finance companies, they appear to be in their corrective wave now (in red) I don't expect a lot of growth from this year as interest rates stay higher for longer, failure to go into the bull case on the chart, I expect this to come down to a new low, heading towards the 0.618 fib.
2023-02-28 12:50:47 +0000 UTC View Post
Updated chart since $PFE has announced a massive $30 billion offer for Seagen, I personally think this is probably a good move as the Covid revenue is now drying up, it would be a sensible move to start acquiring instead of relying on Covid vaccine revenue. The market will always target the company doing the buying and this would explain the drop below the previous low and our trend line limit. The next trend line is as shown on the chart, $39 is the last support I give here. If it holds and ...
2023-02-28 12:44:58 +0000 UTC View Post