Netflix - Where to Post-Earnings?
I postulated the possibility of a large drawdown in Netflix in my last post below (with a mathematical price target) and believe the probability for this event has increased post-earnings as it did not gap-up or move substantially higher.
Invalidation of the Inverse Cup & Handle / arguably a Head & Shoulders would occur for me with the stock trading above April 4th's high (349.80).
Note the stock printed a daily hammer candle after the plunge this morning and could see a bounce before further resuming to the downside. A better short entry would be on the upside gap fill during a bounce in the next few trading days.
(No Position Currently)
04/17
Distribution occurring going in to earnings. Inverse Cup & Handle (1 could make a case for a head & shoulders).
~290 neckline.
369 conservative top of the cup.
369-290 = 70.
290-70 = 220 IC&H target.
No position. I do not recommend gambling on an earnings direction as this stock is highly volatile. This is strictly an exercise in charting. Earnings could either immediately invalidate this structure with a massive gap-up over the high of the handle or accelerate its validation with a miss or poor outlook.
Invalidation of the Inverse Cup & Handle / arguably a Head & Shoulders would occur for me with the stock trading above April 4th's high (349.80).
Note the stock printed a daily hammer candle after the plunge this morning and could see a bounce before further resuming to the downside. A better short entry would be on the upside gap fill during a bounce in the next few trading days.
(No Position Currently)
04/17
Distribution occurring going in to earnings. Inverse Cup & Handle (1 could make a case for a head & shoulders).
~290 neckline.
369 conservative top of the cup.
369-290 = 70.
290-70 = 220 IC&H target.
No position. I do not recommend gambling on an earnings direction as this stock is highly volatile. This is strictly an exercise in charting. Earnings could either immediately invalidate this structure with a massive gap-up over the high of the handle or accelerate its validation with a miss or poor outlook.
Dagangan aktif
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.