Netflix, Inc.Long
False break?
NFLX has been in a rising wedge, typically seen as a bearish pattern. I do think it is possible we see a false break here to complete an ABC pattern here. Then a pop back up to around $285. Buying in around $242, with very very tight stops. With the state that the market is currently in and how common it is for NFLX to make big moves in a short period of time, it's important to watch for any heavy volume on a break to the downside.
Eventually the market bubble will burst, and so will Netflix, so be very careful making long trades right now. Earnings next week as well.
Eventually the market bubble will burst, and so will Netflix, so be very careful making long trades right now. Earnings next week as well.
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