NFLX Building Selling Pressure from Buy Climax

After a parabolic wedge and buy climax from July 18, the bears got a test of the start of the wedge in two legs down. This may end up becoming the first of a larger second leg down. Currently the bears have formed a double top bear flag and lower high. There is also a bear breakout gap around 392. The past few weeks and months have been in a tight trading range which is a sign of bull profit taking. There are open bull gaps below around 275 that will likely be tested. The bulls will look to form a double bottom around this higher low and form a large bull flag trading range. If instead the bears get a strong breakout below, we could see a test all the way down to the 200 start of the strong bull rally.

If you found this helpful please like and follow. Feel free to comment or ask questions
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out