stephen.punwasi
Long

NFLX Ready To Run Again

NASDAQ:NFLX   NETFLIX INC
The macro environment has created a number of buying opportunities, and NFLX             is shaping up to be one of the best.

There's a lot to be bullish about long term, but immediately there's pricing action, volume accumulation, and MACD .

Pricing shows that the dip double bottomed, and while it's true a conservative investor would wait for it to clear the ~$435 range, I would purchase and would be careful around that range, watching for any signs of weakness.

The MACD is approaching a cross with a pretty big upswing. Keep an eye out for rejection at the cross, that might send it back for a triple bottom.

Accumulation is returning, always a sign that the worst is over. As accumulation returns the pricing action will definitely follow. If you're looking for a more conservative play, wait until the accumulation clears the peak on August 1.
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