Having missed the explosive earning move, I want to reflect if the chart had provided us with some clues but I missed.
Yes. The clues are:
1. A long rectangle box since July as the stock was being accumulated? The longer the rectangle, the larger the move, once breaking out the box.
2. A 3D Squeeze was fired and served as the launchpad for the explosive move post earnings (500 to 565) or 2X expected move.
3. STOCH/RSI is not overbought and somewhat in favor of buys.
Fundamentally, NFLX is benefiting from its pricing power as well as the Covid factor. There would be happy co-exist among the streamers still.
The message here is to pay CLOSE attention to stocks with long accumulation patterns and coupled with a squeeze (esp. the 3D).
AMZN is in a similar TA pattern so will pay close attention before earnings on Feb4.
Yes. The clues are:
1. A long rectangle box since July as the stock was being accumulated? The longer the rectangle, the larger the move, once breaking out the box.
2. A 3D Squeeze was fired and served as the launchpad for the explosive move post earnings (500 to 565) or 2X expected move.
3. STOCH/RSI is not overbought and somewhat in favor of buys.
Fundamentally, NFLX is benefiting from its pricing power as well as the Covid factor. There would be happy co-exist among the streamers still.
The message here is to pay CLOSE attention to stocks with long accumulation patterns and coupled with a squeeze (esp. the 3D).
AMZN is in a similar TA pattern so will pay close attention before earnings on Feb4.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.