Recent distribution after the leg up leads me to expect a possible or distribution pattern before retesting the leg start. The 2nd test really dictates which distribution pattern we may take, and the 1.5 Fib should act as a bounce area for shorts to take profits as we retest the support we would have previously lost.
We shall see at earnings what happens Infinite. They are still the name brand for streaming TV and as more people move from their old costly cable to content they control the more upside I see for this space. Google and Amazon are their main competitors however they are smaller. I moved to neutral now and there are no bullish setups however its getting a little oversold now and if your short one could get squeezed here. That Chikou line would have to break through that cloud for me or until i see a fractal break under that cloud.
The options market has about a $79 dollar move priced into earnings. Price action has recently stalled so likely they are waiting now for earnings. If your on the wrong side of this going in to earnings you will feel the pain. you may be right but the weekly is not setup yet for me to go short just yet