Close-up of $NFLX alongside some fib numbers. We are kinda worried that $NFLX would be happy to pull-back, but your fibs are there to catch you. Sincerely, Beauty PS
$NFLX great strength here this week as it reclaimed the 220 level and pushed hard off the weeks lows. Nice developing cup and handle pattern that could use more time filling out the handle before attacking the 230 level. I continue to remain bullish on this name and any strength in the indices should set up some nice long side opportunity in Netflix. However I do...
$NFLX Started with a bang today popping into the 220s level right out of the gate. From there gravity did its thing sinking it over $10 to 210. It retested that level later in the afternoon making a new low on the day but saw no follow through and pushed off it creating a nice tradeable double bottom. Mini support around this 215 level, below that is 213 and then...
$NFLX 6th day contained within an 8ish dollar range. Had a slight breach below the lower end of the range on Thursday but the bulls quickly stepped in and saved it. Until there is a clear change of character in this chart, trust in the range to hold until it doesn't.
$NFLX seems like this stock only wants to move in 20%+ increments. Continues to base within a tight range after its explosive earnings move. Levels are clear here, trade your plan.
A good example of a bottoming process.We had both the CCI & Fisher long term positive divergence and a double bottom. Trend change was confirmed by both CCI & Fisher. Before today's big jump Netflix was consolidating perfectly from top to bottom of CLONE 3(bull flag). Near term target , top of CLONE 4.
It was a great trade to the downside, and today's bounce from 160 area may give the price to test again previous sell point at and around 174 area before it heads to 155. Added long today and will exit right at that resistance if it happens next few sessions. Join us www.woowtrading.net
The set up was designed to show the coil within the formation expected a pop up to the upside and also had concerns if a push to the 200 level fails that the price action could turn Negative and approach Bearish Targets. The Price action needs to break the thin red break down line drawn to approach my "Danger Will Robinson Danger" Line where a bigger move to the...
Notes on chart. Short at your own risk this chart is not ready for short yet. IMHO. Sidelines til next move over 193... but weekly does look like resolution could come soon.
Last few times we correctly predicted upside move both 145, 185 and finally 193 thought we were bullish but only played bearish trades now it looks temp peak posted and the chance to see 200 price is less likely it was a few weeks ago. The chance now is $156.90 area before a significant bounce come to play. Will have a new short entry if price violates or breaks...
Head and Shoulders
If the neckline gets broken, we have a head and shoulders pattern with a stop above the right shoulder and a R/R 1 : 1 target.
The other trades are the AB=CD completion. (See different chart...below.)
And a reversal after the gartley completion. (See different chart...below.)
