Regression Channel (Trend traders)
This is a channel that picks up the support and resistance of any trend.
Clearly the trend is up, and the contination trend's momentum is strong.
We can expect Netflix to rally further.
Nature: High Probability
Price>20
Price>200
Target $764.80
NFLX has added 20% to price in the two months since the last earnings which were decent
but not remarkable. The 2H chart shows a dip of about $20 per share coincident with a fall
from the second upper VWAP line to support from the first upper VWAP line. The zero lag
MACD shows line rising over the horizontal zero level in perhaps a sign of bullish...
Timeframe: Weekly
Price may find bottom to complete the bearish impulsive wave a at 0.236 fibonacci retracement of the previous general motive phase wave 1.
When this level holds and this analysis be validated, price may then resume its corrective bounce for wave b.
#elliotwaveforecast
@marketpainterPH
Visually presenting the basic general representation of...
NETFLIX stocks price is inside a channel ranging with a small volatility, and here are our two possible scenarios:
1- Staying inside the channel: Price goes down, touches the lower trendline and our RRR will be perfect as the stop loss won't be too far. Plus, we will be around an important support zone, decreasing risk on our trade.
2- Going outside the...
