Break above that resistance point will lead to a rally.
$310.80 acted as a strong support but needs a move above $312.24 to make it a long play today.
Resistance finally broken thanks to the no QE announcement.
NFLX looks to trade into it's support zone around 280 - 290 , if this 15 minute trendline doesn't hold.
Possible reversion play in NFLX comes at a significant resistance level and 100% Fib line.
An analysis of the momentum of Netflix provides insight into how the stock should be traded to avoid being burned.
NFLX - Pulled back nicely onto bottom of channel
Netflix, Inc. (NASDAQ:NFLX) is quickly approaching the $300 level. The all time high for Netflix hit in 2011 was $304.79. This represents a perfect double top and a major shorting area. I will be locked and loaded if the stock trades into and just above that level. Cheers! Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
If we get a big market sell-off, Icahn enterprises, with 8 billion in debt,and loaded up the gills with momentum stocks, will be in a lot of trouble.
There is a flag forming, we go long wait for confirmation from indicators.
Expect to break the lower trendline in September, still has some room to run up till then.
$NFLX needs to hold above this old trading range if it is to get any traction to the upside. 250 level become an important weekly close reference point. You don't want to see it get sucked back down below there else the 240 lows will probably come fast and it's flip a coin if it can hold there again. Breaking below 250 briefly is fine, but keep a close watch on...