One of the most powerful patterns in the making - The Cup n Handle.
This is confirmed if prices stay above 482-85 range for 30 mins.
Pattern targets are 100 points higher
Namaste!
Netflix has corrected almost 74% from the all time (swing) highs. This isn't new for Netflix. It had happen in the year 2011-12, when it corrected 82% from swing highs. It had moved >9000% since then (up to the latest swing high from Rs 7-8 price). Investing after a correction is a good idea, because it gives us more room for potential gains. And, there...
NetFlix has given Head and Shoulder pattern break down from 412 support zone.
Target: 385, 348
SL: Hrly candle close above 418
Note: Head and shoulder pattern usually indicates trend reversal pattern, so better avoid longs unless it reclaims 445 levels.
NASDAQ:NFLX providing a good RR for long. Its at channel support with swing low of 315 as SL.
IF sl is not hit, high probability of hitting channel high
Despite NASDAQ:NFLX beating its earnings across the board, its stock came across some bearish moment. Here I believe we might see a reversal in trend, as noticeable a divergence signal from MACD & RSI both. Also, Considering today’s price action, a jump of almost 1.5% intraday from its 200 MA, we might continue to be bullish and breakout from the triangle as well.
It fell more than 70% from its high, and recovered more than 80% from the low, then again it is falling.
Case 1
In Jan 2004, the same thing happened. First fell more than 60%, rose 40% and again fell 54%. Then started to rally again.
Case 2
In July 2011. First fell 75%, rose 110%, fell 60%. Then a strong rally.
Case 3
Current situation. Fell 75%, rose 85%. Now...
Yes. Netflix even after such a fall it's in an ascending channel so I would think twice before shorting it. It can help its investors make good bucks if held for long term.
What Is a Gap?
A gap is an area discontinuity in a security's chart where its price either rises or falls from the previous day’s close with no trading occurring in between. Gaps are common when news causes market fundamentals to change during hours when markets are typically closed, for instance an earnings call after-hours.
NFLX This rising wedge is at tight...
