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themarketzone
Jul 23, 2014 8:58 AM

Will $NFLX complete the AB=CD pattern? Short

Netflix, Inc.NASDAQ

Description

After breaking down the reversal pattern I mentioned previously, NFLX managed to hold on a daily support zone (mostly due to market's strength). Breaking below 428$ can lead NFLX to the completion of AB=CD pattern. That will be the first wave in a stronger downward move based on Weekly chart analysis.
Will NFLX complete this target today?
I believe it will reach it, if not today, than by the end of the week.
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