NFLX Ready To Run Again
The macro environment has created a number of buying opportunities, and NFLX is shaping up to be one of the best.
There's a lot to be bullish about long term, but immediately there's pricing action, volume accumulation, and MACD.
Pricing shows that the dip double bottomed, and while it's true a conservative investor would wait for it to clear the ~$435 range, I would purchase and would be careful around that range, watching for any signs of weakness.
The MACD is approaching a cross with a pretty big upswing. Keep an eye out for rejection at the cross, that might send it back for a triple bottom.
Accumulation is returning, always a sign that the worst is over. As accumulation returns the pricing action will definitely follow. If you're looking for a more conservative play, wait until the accumulation clears the peak on August 1.
There's a lot to be bullish about long term, but immediately there's pricing action, volume accumulation, and MACD.
Pricing shows that the dip double bottomed, and while it's true a conservative investor would wait for it to clear the ~$435 range, I would purchase and would be careful around that range, watching for any signs of weakness.
The MACD is approaching a cross with a pretty big upswing. Keep an eye out for rejection at the cross, that might send it back for a triple bottom.
Accumulation is returning, always a sign that the worst is over. As accumulation returns the pricing action will definitely follow. If you're looking for a more conservative play, wait until the accumulation clears the peak on August 1.
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.