So after this mornings rally its looking like most S&P stocks are overbought and overextended.
I'm labeling this neutral because theres definitely a decent chance NFLX goes up but as the title says, my personal opinion is that it feels bearish to me.
NFLX just hit it's fourth top and is looking bearish on the hourlies heading into it's earnings this afternoon. (at least as of right now at 11am est)
Earnings are probably more important than the chart technicals though for price momentum and sentiment, so if earnings are good it's most likely breaking the resistance. As of right now though it seems to be overextended and due for a big pullback.
Markets extremely volatile right now so trade safely, trade only what you're able to lose, and trade with the trends.
I'm labeling this neutral because theres definitely a decent chance NFLX goes up but as the title says, my personal opinion is that it feels bearish to me.
NFLX just hit it's fourth top and is looking bearish on the hourlies heading into it's earnings this afternoon. (at least as of right now at 11am est)
Earnings are probably more important than the chart technicals though for price momentum and sentiment, so if earnings are good it's most likely breaking the resistance. As of right now though it seems to be overextended and due for a big pullback.
Markets extremely volatile right now so trade safely, trade only what you're able to lose, and trade with the trends.
Comment:
I was very wrong, NFLX earnings was great +$30
