mukit1

DIS: Super Cycle correction in progress; pump before the dump RSI study suggests Disney has completed Supercycle wave 1 back in March of 2021. My evidence to this thesis is the highest RSI reading showing at wave 3 of 3 or 3 of 3 (minor degree). Since then, it took a couple of years to complete wave A of Supercycle 2 or in the worst case, wave a of A (yet to be seen). Now there is a monthly bullish divergence forming in RSI and price seems to be forming a bottoming structure. In the next 6 to 12 months I would expect DIS price to make some progress and move up to $100-120 supply area or might push to $150 before losing steam. Wave A is a 5 wave structure, so chances are, it will be zigzag correction and wave B will not make a higher high than the previous wave 5 high. After that I would expect a long drawn out wave C that may last a few years to complete the Supercycle degree correction. The potential demand zone could be $40-$50 area. Bottom line, DIS most likely won't see it's ATH for many years. But that doesn't mean short/medium term upside any less lucrative.

CGC: Game Over!! CGC broke through the wave 2 invalidation level of $1.01 to an all-time low. This can become a waterfall to another 50% decline very soon. However, RSI is showing positive divergence in all higher timeframes. At this point the previous cycle is over and a new cycle is about to start or it's going to 0. I'll check back in a year or so, to see if the company is still alive. I took a small position at $1.01. I will get rid of it on the next spike up.

ZM: Is Zoom starting a new cycle? Zoom has broken out of a very long downward channel this week and the weekly close was pretty good. This could be the end of cycle wave 2 which came about an inch from getting invalidated. If Elliott wave principles hold then Zoom has completed a complex correction and starting cycle degree wave 3. Before getting too excited though, a full 5 waves motive followed by a 3 waves corrective price action needs to play out. Right now there should be enough momentum to get to $88 or maybe attempt to close the gap at $96.

PINS: Looking for another leg of correction PINS price action has been very choppy and strange, but the latest sharp pullback suggests it is a wave 2 correction following a leading diagonal wave 1. If that is correct, then price should have a 3 move up and followed by another 5 waves down. Price cannot make a lower low than $16.14. Fundamentally, the company is doing OK. There have been good progress made on overall business model and institutional interest has been growing. The fallout from the last earnings meeting might be too extreme and stock will bounce back and test the lows, maybe close some gaps before making the move towards the upside. Let's see how things go.

CGC: Starting something big or the last gasp? The Friday spike is curious. It has broken out of the balance area that the bottoming process was putting in for the last week or so, but there is going be huge resistance at about $1.18. The problem is from Elliott Wave perspective, there is no more room to go down. The low came in at $1.02 and invalidation is at $1.01. So, it is either a start of something serious crazy in the upcoming months or this is the last gasp before the downtrend continues eventually to 0...want to see a five waves up and a three waves down to get a feel for what's next.

DOGEUSD: will the triangle get invalidated? So far the wave 4 triangle has been working out beautifully. All the touch on the trendlines are to the tick. The last bounce as well held the bottom trendline. Now is the real test for Doge. If it is really starting on Wave 5, then we should see a gradual upward movement. If price breaks below $0.049 then this will be a wave b triangle of a much larger ABC for wave 4; which can bring price down to $0.02. Price cannot break $0.018 to stay as a wave 4. Below that, the count gets something completely different. Let's just hope that $0.066 holds.