After the great run NFLX has had over the past few months, the stock is trendline resistance. As the stock has made higher highs volume on these days indicates bulls are treading cautiously. I believe with earnings 18 days away that we could have a significant long term (6-12 months) decline in the stock price. Gaps need to be filled and no one likes filling those more than bears (don't think about that one too hard).
CCI is showing a bearish divergence similar to the one experienced from July 2015 to Dec 2015 before the stock fell nearly $55 (40%).
I think if the stock in the coming days does not break this trend line, or does but finds resistance at that upper purple line, then the stock could be in for a nice fall.
Prior to entry look for,
- NFLX breaks through trend line and falls below $140 (remember, it has to make a lower low or we are technically still in a uptrend
- stock breaks below 20 DMA, preferably 50 DMA
CCI is showing a bearish divergence similar to the one experienced from July 2015 to Dec 2015 before the stock fell nearly $55 (40%).
I think if the stock in the coming days does not break this trend line, or does but finds resistance at that upper purple line, then the stock could be in for a nice fall.
Prior to entry look for,
- NFLX breaks through trend line and falls below $140 (remember, it has to make a lower low or we are technically still in a uptrend
- stock breaks below 20 DMA, preferably 50 DMA
评论:
Nice downturn beginning
评论:
Hitting trend line, if this Trump and Xi meeting in Mar-a-Lago doesn't go well we could see a pullback to $135 and possibly a full reversal to a downtrend going down to $111
交易开始:
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