is that the descending wedge evolves into a 61% Fib as it has in the past.
If/when it resolves upwards, 61% retracement not atypical. Watch for double bottom. Target $40-45
Reversal potential soon. Prior two wedges have retraced at least to 61% Fib, Potential 40-45 in 6 mon
that perform well over long term. Hindsight is 20-20, I sure missed it
Same as $AMZN, great business, but likely to throw a SALE
Don't like toe look of the steepness, More likely to take elevator down soon
If EOM < $109, likely drag down into 90s.
Probably gunning for $430s, intersection of longer term TL and 61.8 Fib
Rising 20 EMA, flat to rising 50 EMA, 20/50 EMA cross will make it bullish
See what a simple price-only- pays daily renko says of $NFLX
Consolidating. Exit if 50/20 DMA cross
Hedged Long call position till worst case nt target $500
> $99.5 AND if 20 /50 DMA cross up
after $18.5. Continuing in Long Jan calls until price x 20 DMA cross down
on 20/50 EMA cross
Also a pullback to 50 DMA/$108.62 would allow MAs to catch up. Resistance @ $118.8 area.
To be long, I plan to wait till the 'bear flag' resolves one way or the other. Watching.
Expecting a breakout soon. I respect 10/40 WMA cross