I like the analysis. I just don't see how this can't correct before going upwards. The first half of the 12 month diagram show's strength, second half (2016) shows a lot of weakness, and I don't see more bullishness without a correction. Otherwise that would mean a 50% gain. Not feasible. Must correct to the 110-115 range before it could continue.
Yes you are correct, the chart can correct, and I have taken this into consideration in the analysis with the 130.00 level being resistance to the upward movement. This correction at this point can indeed fall within the 110-115 range due to this resistance and general slow down in short term growth of Netflix. As of today this 130.00 level has become very significant, due to continuous attempts to break through... so my buy signal for Netflix falls in the region above the 130.00 level.
Thanks for sharing the analysis. I found myself agreeing with you on this. I was lucky enough to get into this trade before the gap up on after the earnings call last week. I have already taken profits on some of my positions and changed stop loss up on the rest. I have made a few thousand pips on this already. And still keen for it to pay more. My trailing stop is now at 125. If it retraces from current price levels, I will loss a couple of hundred when it hits my stop, but in the overall trades of the week, I would still be a few thousand dollars up. Loving NFLX!