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NFLX builds more momentum LONG for now
Netflix, Inc.
Long
NFLX builds more momentum LONG for now
By AwesomeAvani
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Updated
Jul 19, 2023
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Jul 19, 2023
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.
Jul 19, 2023
Trade active
Sideways price action watching for consolidation vs reversal.
Centered Oscillators
Mass Index
Moving Averages
nlfx
volumeanalysis
volumeprofileanalysis
volumespike
volumespikeanalysis
Volume
vwapband
vwapbreakout
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