Positive start for $SQ, we know there are number of gaps above that will be filled eventually, what we want to see now is momentum to the upside here.
In March we saw a large drop to $56 after an erroneous short report attacked $SQ, it also recovered nicely.
I have maintained that I like $SQ due to its exposure to...
2023-08-09 14:05:40 +0000 UTC View Post
Earnings out today before the market opens, I suspect in the next hour.
Price is showing a strong move in the PM due to their announcement yesterday with ESPN.
This chart was showing mixed leading up to these earnings but the partnership has broken the price above the yellow wedge already, a positive catalyst like...
2023-08-09 10:20:21 +0000 UTC View Post
No changes to the chart here after earnings reported yesterday and it was a beat.
A break above the yellow trend line at $66w would mean the price is into the Bull Case and it is at a lower risk of coming down.
PT remains at $93
2023-08-09 10:13:23 +0000 UTC View Post
Earnings are out after business today, a lot of optimism around now since ESPN has decided to partner with $PENN to bring easy accessible gambling to their platform.
On the short term chart, we can see that the $DIS is in a very tight descending wedge here but the price has also stayed below the triangle formation in ye...
2023-08-09 10:09:15 +0000 UTC View Post
We have been waiting for $14.10 to hit and it went down to our level yesterday. Hit a low of $13.73 and recovered well towards the end of the day.
I was impressed with the ascending triangle formed leading back up to the $14.10 level and when it broke above we bought and a buy alert was sent out.
So far the price ...
2023-08-09 10:00:26 +0000 UTC View Post
I like to take a clean chart sometimes and draw without any preconceived bias towards a company.
So I have done this with $SE as an exercise.
A very straight forward Head & Shoulders pattern is observed here and the middle blue line is a historical support line throughout the last 2 years.
I am not conce...
2023-08-08 19:32:54 +0000 UTC View Post
Testing the 50 Day MA from below now, a flip here to support and this could be the start of the move for $BTC to the upside.
Levels to watch is holding the 50 Day MA at $29,900
Holding above the yellow line at $31,100
and then finally getting above the blue resistance line at $32,550.
$50K PT for EOY.<...
2023-08-08 19:26:52 +0000 UTC View Post
We have spoken about this a bit today in our Telegram group, we have been impressed with how the bulls have been defending the 0.65 Fib and as I said in the last update, $LUV and $DAL could move together, in spite of them being on different impulse waves.
What is interesting about this chart now on the daily is that, if...
2023-08-08 18:09:00 +0000 UTC View Post
Price is just above the 50 Day MA on the daily chart above.
But the price has lost the 50 and 200 Day MA on the 1hr chart.....which means the trend is still to the downside and where we have Wave 4, we can see that our count verifies this too.
I have Wave 4 coming down to the 1.27 Fib at $353.....so we...
2023-08-08 14:38:35 +0000 UTC View Post
Like clock work, once you start hitting this high extremely extended Fib levels up to 3.618 or the highest one at 4.618, then you are going to get a strong pull back and that is what happened here.....not taking anything away from the company and the ABC should be standard here before going higher.
2023-08-08 13:11:03 +0000 UTC View Post
Needs to find support very quickly, like the chart says, 'Needs to hold above this line' at $4.
Working its way down the Fib levels below the standard 0.618 Fib right now.
This is a leveraged 3 X ETF so any standard pull back in the Biotech market will be multiplied by 3 X here, so caution is always advised.
Very nice structured upward trend here since 2019.
There is still more upside here as this moves strictly within this channel.
I expect Wave 3 to continue to the 1.618 Fib at $486 before pulling back for Wave 4 and then proceeding higher.
Nice chart request.
2023-08-08 12:59:25 +0000 UTC View Post
Getting some red after that disappointing export report came out this morning from China, Exports are down -14% from last year which is not a good sign but even more pressure will be put on policy makers to step in.
Inflation figures for China are due out tomorrow, although it is not expected to go below 0%, I suspect t...
2023-08-08 12:14:33 +0000 UTC View Post
When $TLT lost the support line at $99.40, it really lost it and dropped aggressively.
A nice bounce in the PM at the moment but for me, this just looks like a relief bounce before going lower again.
Wave B target remains on the blue line.
2023-08-08 12:06:52 +0000 UTC View Post
The $VIX has been making moves, which is to be expected while we witness a lot of stocks in their Wave 4 pull back.
The $VIX is still in its downward trend but we can see that it has certainly moved higher over the last week.
Big test will be at the red line at $17.70
This was a support line that went back a...
2023-08-08 12:05:03 +0000 UTC View Post
Wave 4 is due now after a strong run from $320 to $550, a pull back now to $460 before moving higher to finish the year at $580 would be the expected move for $ADBE now.
2023-08-08 12:00:31 +0000 UTC View Post
I see ARK is selling some of their $DKNG holdings over the last week which amazes me because they are finally doing the right thing, selling at the top and not at the bottom.
ABC corrective wave is next, after hitting our Wave 5 target and our Second bullish target.
An add here around $22 would be good, I rate $DK...
2023-08-08 11:54:46 +0000 UTC View Post
Before and after guys, from May and today.
We know when Wave C ends high, we get a corrective wave down next.
PM has this down -22% to $83 right now.
2023-08-08 11:51:31 +0000 UTC View Post
A requested chart that I have been watching for a week to see if there is any break to the upside before earnings on the 15th of August, but it is not looking likely until a catalyst comes along and earnings may be that.
We can see that the top yellow trend line is in perfect sync with the 200 Day MA so this is a strong...
2023-08-08 11:47:24 +0000 UTC View Post
Giving us a standard ABC correction now and we can see that the price action is having difficulty getting back above the 200 Day MA on the 1 hr chart, as it has hit the resistance times a number of times this month with no success.
So we will watch for a further leg down to complete Wave C, we should be watching for the...
2023-08-08 11:41:23 +0000 UTC View Post
I have been looking over my long term projection chart for $TSLA and noticing the large inverse head and shoulders forming at the moment.
The right shoulder also bottoms out at the 200 Day MA at around $208, which would be an ideal area to hold support before going higher.
We will watch how this progresses.
...
2023-08-08 11:21:14 +0000 UTC View Post
Chart of the week could not be going better, we said to wait until the 1.618 Fib where Wave 4 has been set to look at entering and yesterday we got a strong pull back to $8.88 yesterday before recovering nicely.
We can see in the PM that this is back to that $8.90 level again and the 1.618 Fib is firmly in a lot of sigh...
2023-08-08 11:07:12 +0000 UTC View Post
Has fallen out of this bearish channel lately but we have been here before with $NVDA, it has ungodly strength at times so let's remain cautious here.
On the this daily chart, we can see that the 50 Day MA has been the guiding support line since October 2022....if this level is lost and it is at $428 right now, then we ...
2023-08-08 11:03:39 +0000 UTC View Post
Impulse wave is now invalidated, the price action crossed aggressively below the blue line which would impede on Wave 2 and this breaks the rules of EW Theory.
$COIN has been under a lot of pressure due to its SEC lawsuit and a number of analysts updated their targets for $COIN which were less than attractive, Goldman -...
2023-08-08 10:56:26 +0000 UTC View Post
PM continues to keep to the plan here.
i alerted yesterday in the TLI Telegram group that I still believe that another low would need to come in for Wave 4 to complete and we are seeing that play out here.
Zero rush at the moment but if you are accumulating more shares here but your intention is to hold long term,...
2023-08-08 10:44:08 +0000 UTC View Post
Report has just been released. Missed on Revenue and Losses have increased but they have projected that their annual production guidance remains on track with 10,000 vehicles.
It's not a great earnings report.
0.618 Fib was lost in anticipation of a weak report and $LCID have only have 3 good reports out of a tota...
2023-08-07 20:20:13 +0000 UTC View Post
$ZM is one of my holdings that I spend the least amount of time looking at, because in terms of risk v reward, the reward favours $ZM here, we have seen over the weekend how the economic cycle of a chart looks and $PYPL has been the pin up child of that but $ZM has a very similar chart too.
The fundamentals are strong, ...
2023-08-07 18:49:10 +0000 UTC View Post
Is starting to get into trouble now.
It has not held the last (white) Fib level at 0.887 - $138. So it's last attempt to hold this structure is to try and hold at the blue line which was the previous low at $113.
This has been on a brutal descent all year from $340.
It's a very popular stock on line and afte...
2023-08-07 18:40:15 +0000 UTC View Post
Rejected trying to get out of this long descending wedge and to add misery here, it has formed a fairly perfect Head and Shoulders pattern which looks complete now.
So watch to see if it can hold on the blue line now or will it continue down the wedge.
Ultimately this is not bullish until it breaks out of the wedg...
2023-08-07 18:34:58 +0000 UTC View Post
