It is profit booking for sure, there is clearly a Red TrapZone and Red UMVD in place for now. So only shorts are active now for Netflix.
TrapZone and UMV combined together are complete automated technical analysis indicator package. You get to clearly see in Realtime the market trend strength and volume confirmation.
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Buying detected on UMVD early and prices went higher quickly,
Trade closed: target reached
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Will start a Neutral Bias Thread for continuous analysis of this symbol - rather than long and short Ideas. Thank you for your support, follow to get live alerts of latest Technical Analysis.
What makes you think of selling this stock market main reason?
SnowflakeTrader
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@Mphomulaudzi, Its best If we believe what we see on the charts. My indicators, TrapZone Pro & UMVD both show Sellers are in control. Price action is confirmed with Volume. Unless that changes there is no reason, other than wishful thinking - to BUY this stock. If and hwne Buying comes in, we will see it in UMVD first and then the price action will confirm.
RohitT83
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I don't think that it will go below 460 in next 1 month
SnowflakeTrader
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@RohitT83, cool. I just trade what's on the chart. Price Prediction is a dangerous business.
RohitT83
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@SnowflakeTrader, That's true but from cash & long term perspective I am saying
SnowflakeTrader
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@RohitT83, Sounds good. I failed to grasp fundamental analysis and how to take advantage of that as a retail trader. Good observation