NFLX has been trending up for three weeks. If the trend is getting old it is now showing.
Based on a set of two anchored VWAP bands originating June 1 and June 15, Netflix is
breaking through VWAP bands from the lower -2 standard deviation lines to the +2 standard
deviation lines and nearly the third upper deviation lines. This is a clear and convincing
VWAP breakout with buyers in overwhelming control Trading volume today is about 4 or 5
times the running average and about 1M. Volume support for price action is obvious.
The dual time frame RSI shows 1 hr TF RSI (blue line) shot up crossed over the daily TF RSI
(black line) and is retreating a bit. The daily RS is below 80 and still trending up.
The MACD shows a classical bullish momentum pattern with the lines well above the histograms.
Overall NFLX has the risk of overextension and possible topping with a fade afterwards.
The mass index indicator shows a value into the reversal zone but until the value rises and the
drops to 26.5, the trend is still intact. I will take a long trade here, hoping for a quick
5% ROI between now and the end of the week and about 50% on an options trade with
a strike of $500 expiring July 28th which I will close upon a confirmed reversal and use
the profits realized therefrom to buy a put option to take a ride down.
Based on a set of two anchored VWAP bands originating June 1 and June 15, Netflix is
breaking through VWAP bands from the lower -2 standard deviation lines to the +2 standard
deviation lines and nearly the third upper deviation lines. This is a clear and convincing
VWAP breakout with buyers in overwhelming control Trading volume today is about 4 or 5
times the running average and about 1M. Volume support for price action is obvious.
The dual time frame RSI shows 1 hr TF RSI (blue line) shot up crossed over the daily TF RSI
(black line) and is retreating a bit. The daily RS is below 80 and still trending up.
The MACD shows a classical bullish momentum pattern with the lines well above the histograms.
Overall NFLX has the risk of overextension and possible topping with a fade afterwards.
The mass index indicator shows a value into the reversal zone but until the value rises and the
drops to 26.5, the trend is still intact. I will take a long trade here, hoping for a quick
5% ROI between now and the end of the week and about 50% on an options trade with
a strike of $500 expiring July 28th which I will close upon a confirmed reversal and use
the profits realized therefrom to buy a put option to take a ride down.
Dagangan aktif
Sideways price action watching for consolidation vs reversal.
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.