NIFTY MEDIA seems to have formed an inverted hammer at the top of the trendline. Till a close above the UTL, this could result in a fall down, and hence in the media stocks too.
This weekly chart shows over all market weakness. However for the short term I think a bounce can be expected
Look at what happened during the pre-shock "market dump test" in August. Look at what happened to the real move at the beginning of this year in Jan., Feb. The market bounces like a ball, even on the way down I think at the moment we will bounce for a few weeks.
This chart shows the final quarter of 2014, through 2015 and into quarter one of 2016.
This is a WEEKLY chart of NFLX. Did you realize that Netflix was in a range? You may not have if you didn't step back and look at a Weekly (or longer) chart. It is amazing to me how things seem so much clearer when you step back and look at the big picture. NFLX has been in this range since late 2013. Since then, when the stock comes down to the $320 area, it...
Credit to Greg Harmon for putting this on my radar. Diving into the price action, Facebook's 2 month sideways grind may be coming to an end as price hugs channel resistance in a bullish cup and handle formation. Respecting fractal behavior, the pullback/consolidation touched down exactly on the 61.8% fib measured from last November's swing low to the March highs....