Netflix THIN AIR Breakdown ! 100 More Point Downside Potential
Netflix, after a "Double Top Island Reversal" at All Time Highs above 400, earlier this month closed on 7/30/18 at 334.96
The stock is currently in a "THIN AIR DECLINE" with crucial support just below at 328.
A failure to hold 328 this week would project the stock potentially for another 100 point move down
to 240 !
Netflix, a Fang Stock, is one of the stocks leading the Nasdaq 100 in it's current "waterfall" decline.
THE_UNWIND
The stock is currently in a "THIN AIR DECLINE" with crucial support just below at 328.
A failure to hold 328 this week would project the stock potentially for another 100 point move down
to 240 !
Netflix, a Fang Stock, is one of the stocks leading the Nasdaq 100 in it's current "waterfall" decline.
THE_UNWIND
Comment:
Netflix Weekly and Monthly Double Bottom's at the 328 price Area
increases the likelihood that an important Low could be in
in the stock, short term.
Continue to use 328.00 as a GTC SELL STOP, until further notice.
NEUTRAL POSITION
THE_UNWIND
increases the likelihood that an important Low could be in
in the stock, short term.
Continue to use 328.00 as a GTC SELL STOP, until further notice.
NEUTRAL POSITION
THE_UNWIND
Comment:
8/15 12:15 pm NY
NFLX has just broken Major Support at 328.00,
which if confirmed by a Weekly Close Below 328.00 on 8/17
,would project the stock down to 240.
ONE CAVEAT. STOPS that were cleared out by the break of 328, may leave room
for longs to come in and support the stock back above 328 on the CL.
Use 328 as a STOP,AND REVERSE BUY, If you want to go long the stock as it could indicate a Potential shake out Triple Bottom in the stock.
THE_UNWIND
NFLX has just broken Major Support at 328.00,
which if confirmed by a Weekly Close Below 328.00 on 8/17
,would project the stock down to 240.
ONE CAVEAT. STOPS that were cleared out by the break of 328, may leave room
for longs to come in and support the stock back above 328 on the CL.
Use 328 as a STOP,AND REVERSE BUY, If you want to go long the stock as it could indicate a Potential shake out Triple Bottom in the stock.
THE_UNWIND
Comment:
After retracing up to the380 area strong gap area of the breakdown
NFLX has had yet another 6 % " Island Reversal "Breakaway Gap to the Downside
on 9/5/18
The chart shows strong distribution on the sharp snap back rally to 380.
Underwater bulls bailed, when they realized that a return to all time highs
above 400 was out of the question.
RENEWED SHORT.
NFLX has had yet another 6 % " Island Reversal "Breakaway Gap to the Downside
on 9/5/18
The chart shows strong distribution on the sharp snap back rally to 380.
Underwater bulls bailed, when they realized that a return to all time highs
above 400 was out of the question.
RENEWED SHORT.
This now doubles the importance of that price as KEY INTERMEDIATE SUPPORT
and STOP for long positions in the stock.
337.45 NFLX Close 7/31/18