For this analysis we are looking at the daily timeframe.
NFLX is in a nice uptrend, but currently we are seeing a retracement, which is the chance to buy a nice stock at a smaller price.
Netflix recently broke the upper resistance of an ascending triangle formation, which is a bullish sign. The break was followed by a fastly reached ATH from which the price dropped to the 550$ mark, which is 1. supported by a weekly trendline (TL) and 2. the upper resistance (now support) of the previously broken triangle pattern, which suggests that rn could be a good time to enter a long position, right? But before spending your hard earned money right away, have a look at the
NFLX earnings (January 27th). NFLX lately tends to fail analyst expectations on earning reports (and NFLX tends to perform better in Q1-Q3), the rather small drops after failing those kind of reports (as long as the expectations aren't missed drastically) tend to be corrected after a couple weeks, but this drop in price could give you a chance to buy a second position.
Idea: enter a long position during the next week (since we need confirmation that our supports are stable), your TP could be at the previous ATH (21% gain if you decide to enter where I will enter (you can see the trade entry on my chart))
As always: no financial advice
NFLX is in a nice uptrend, but currently we are seeing a retracement, which is the chance to buy a nice stock at a smaller price.
Netflix recently broke the upper resistance of an ascending triangle formation, which is a bullish sign. The break was followed by a fastly reached ATH from which the price dropped to the 550$ mark, which is 1. supported by a weekly trendline (TL) and 2. the upper resistance (now support) of the previously broken triangle pattern, which suggests that rn could be a good time to enter a long position, right? But before spending your hard earned money right away, have a look at the
NFLX earnings (January 27th). NFLX lately tends to fail analyst expectations on earning reports (and NFLX tends to perform better in Q1-Q3), the rather small drops after failing those kind of reports (as long as the expectations aren't missed drastically) tend to be corrected after a couple weeks, but this drop in price could give you a chance to buy a second position. Idea: enter a long position during the next week (since we need confirmation that our supports are stable), your TP could be at the previous ATH (21% gain if you decide to enter where I will enter (you can see the trade entry on my chart))
As always: no financial advice
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.