The way I see things we are about to have a face melting beta rally, with growth outperforming value again for the rest of the year and into Q1-Q2 2022 at least. NFLX might be a good position to have, quite unloved for a long time, lagging the mega cap rally, and coming out of a nice base, weekly uptrend formed after the 9 week down trend signal expired last week.
I like the Spielberg partnership news, and the way things are going with the new delta variant and rising cases I suspect people will do a whole lot more of sitting and streaming at home for much longer. One thing NFLX was lacking was new content, now they are once again able to film new stuff, and might actually generate some growth again.
Best of luck, Cheers.
Ivan Labrie.
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Didn't get a chance to get in, stock zoomed higher right away. I'll keep an eye on it.
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Strong overall, just need a retrace next week to join it.
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0 chance to join on retrace, and it looks like surging straight up from here.
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Trade closed manually
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I don't like the choppy action, I think NFLX will underperform QQQ going forward. Streaming competition is fierce, I don't like the action here from a technical perspective.
At what point are you confident that the bottom was formed? i.e. When were you sure that we're going up again? As a new trader, here's what I see: The end of May rose up a little from the low, but might just be testing 510 again before plummeting. It tanked back down after confirming that possibility. The 3rd was a higher low, but then the 9th was lower, and so was the 10th, so we don't know when the next pivot is going to bottom. Looking through it as it formed, it wasn't until the 17th that I could say, "the 10th is a pivot and a higher low, so we bottomed and are reversing."
So, I'm just curious about what you see and when you're able to make the call. :) Thanks!
IvanLabrie
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@OverexposedPhotoOfADress, one simple way of looking at it is trying to find a basing period after a bottom, where a low holds for more than 5 bars after the close of the bar with the lowest low, market makes higher lows. After that is established, look for the highest concentration of volume at one price, and buy on strength if there is a 'range expansion' from above said level, this can kick start a reversal of a trend, and then the market will start consolidating again, and shooting up from the high volume level once more if trending, else it will come back to your last high volume level from where the rally started in a similar amount of time as the rally before. @timwest came up with this methodology, you can see it in more detail in his youtube channel.
GaryP2020
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Cr. hello Ron r@@
IvanLabrie
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overall, it has been slow but lately it managed to stage a bullish trend in the daily again. I missed the re entry in it.
So, I'm just curious about what you see and when you're able to make the call. :) Thanks!