NFLX "Cliff hanging... somebody help me!"

Hello traders,


Today, I wanted to share NFLX which is also important and interesting to watch as I said in the title, it's cliff hanging now.

What I mean by that is... NFLX was on a beautiful upward channel as it shows on the right side. However, due to recent market sell-offs, it failed to get a support from the bottom of this upward channel.

Currently the price is hanging right below its bottom of the upward channel. What I really don't like this chart is that the bottom part of this channel has been supporting the price. Every time it touched the bottom, we had a bounce and consistently moving upward.
However, after price fell below, it even confirmed that it's working as a resistance now. (characteristic of trend line is changed when it's broken, u know that).


Well, it's still a weekly candle, so we have 4 days left to grab someone's hand to survive. (I hope that someone is our president Trump, by intervening the market as a government if they do payroll tax cut or whatever the market can get some good energy, this poor NFLX guy can stretch his hands to survive). I don't ever want to see NFLX falling into the valley. If so, (because I personally think that NFLX is the one that moves ahead before any index moves into certain direction) more than likely, we're going to have NFLX drop all the way bottom around $258.

Moreover, this will drag all the other markets too which is even a greater negative impact on all.

Well, this is just the worst scenario. Since we know the worst, just plan for the worst and hope for the best.

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From, trader's side, this is not a buy nor sell unless you're a day trader. If it rolls it up and get into the box again, then it towards to 'Buy'. But I would confirm the change of velocity first which is always my 1st priority buy criteria when it comes to day trade.



Thanks,



After all, only Traders who have right strategies that penetrate markets will survive, not people trading with luck or without criteria.