Back in July 2023 NASDAQ:NFLX on earnings did a weekly price Spike across a major 50% Retracement level. I entered into a short trade on the stock which worked well for a few months until the market turned decidedly bullish in October and then the trade stopped out. The recent earnings pushed the stock price higher as Netflix net income is dramatically higher...
The stochastic now is negative and we should test of $ 520 area coming sessions, is my personal view.
The pair requires correcting, and GANN support needs to break for further move lower.
Strategy SELL @ $ 560-580 area and place profit order @ $ 521. for now. SL above $ 595
Bears regaining some power. Gap can be closed.
After the gap up, bulls continued to push, but looks like bullish confidence has reduced and momentum might die out.
Closely follow the trade, this is against the trend.
Key Takeaways:
+Since ER gap up we had a continued uptrend leading into this tight $15 descending channel which I am approaching with a slightly bullish breakout bias provided we hold the key demand box
+Trending above 20d SMA and 20d SMA > 50d SMA > 200d SMA meaning we are in a healthy uptrend
+I would expect ~$15 move topside after breaking the TL resistance...
NFLX
we are in a tight range right now,
till we keep 560 possible to go upside
580 - next level, where I will close 75% of my position
one time we broke 580 we are very bullish
Cautious: the personality on NFLX is very hard,
often we break the level and we start to sell-off
observe price action here
Now its worse than market
SO possible upside game
Good...
No change in view. In fact, the stochastic is turning negative and this provides more comfort to the SELL idea.
Strategy SELL @ $ 560-580 and take profit @ $ 515 for now. SL best above $ 605 for now.
Netflix is also near previous high still valid to enter, note that I am a longer term trader n investor soo I don't count small moves at all, in my top 10 only tesla is the one floating and am investing more money in it
The problem which is to your advantage is that the overall-stock market is being pumped up!
Now this leaves people who do not understand technical analysis unlike you who is reading this right now, at a huge disadvantage.
But the fact that you are reading this right now you are at an advantage because you are seeing something i call the "Rocket booster strategy"...
After huge earnings the stock has shot up
Now that we have gapped a signifcat amount, natyrally we have to fill the gap.
We have a bearish Pendant forming
Watched to fill gap to 508-510
In the current situation, according to the failure of the support area, the probability of falling is more likely with the analysis of the above times
The share is starting to decline as expected, and it feels we may test $ 507 area in the coming week.
Stochastic is negative 4-hourly chart as a note.
Strategy SELL @ 560-580 and take profit @ $ 507-510 area. SL above $ 600 for now.
AI-bubble ready to pop by 2025/2026 imho...
May be a next generational buy opportunity with NFLX going to 1000 dollars by 2030?
Or just an epic economic recession, affecting (overvalued) growth stocks? 🐷
Daily Chart of NFLX
620 is the confluence of two major channels. This is also a major resistance area for NFLX.
NFLX blockbuster seems to be coming to an end.
Disney's recent move to license more TV shows to Netflix marks a significant shift in the streaming industry, bolstering Netflix's extensive content library. Historically, Netflix has heavily invested in content, spending over $17 billion annually at one point, to maintain its industry dominance.
However, Netflix has faced challenges like subscription fatigue and...
As mentioned few days ago, the share price could move little higher, and so we managed to reach slightly above $ 563. We may have been shorting already, and one should add if not done so. always play safe in terms of leveraging of course.
Strategy SELL @ $ 550-565 and place SL above $ 595. Profit order slightly adjusted to $ 495 mid-Keltner.
We had a great bull flag setup going into the earnings.
Now the target got hit, will be watching for a retracement into early Feb and another push higher into Feb OPEX
Nothing bearish here to even try taking a short trade. There is still one more gap to close above the price, should be hit first before reversal starts.
Also the price might just...
