$100 NetflixNASDAQ:NFLX
Price has dropped out of an ascending wedge after 104% rally to fill the Post-Q1 Earnings Report Gap.
I'm expecting a big market drop, and Netflix might lead the way lower.
Keep an eye out for the upcoming Q4 '22 Earnings Report to serve as a potential catalyst.
The next available gap on the daily timeframe is right around the $100 price level.
Fat_Fat
NFLXD trade ideas
NFLX TA for this weekOkay ill be honest there are several ways that this could play out so ill give a brief summary of all possibilities:
1) Daily rising wedge(Blue Line) along with a daily gap to fill (white box)
2)Mid Size rising wedge (White Line is the bottom)
Most important ones to watch short term is the gap fill on the daily and if break below bot the big and ,id size rising wedges will move further down to hit the demands(green lines) Frankly I would wait for more confirmations before entering a play on NFLX a month out puts would suffice or leaps.
NFLX Daily Short Squeeze Setup using Wolfe Waves$NFLX The wolfe wave indicator is increasing in popularity as we continue to see more people using it and enjoying the results. In some of the educational material and streams posted in Tradingview, I go over a short squeeze setup using wolfe waves. You can watch the video here: www.tradingview.com There are a multitude of gaps within gaps and they will all eventually fill some time in the future - only the market makers with designation will determine that. In the meantime, we can use wolfe waves to identify short squeezes or breakout patterns by using the indicator as a contrarian. In the short term, with earnings season starting in January 2023, there is a setup that NFLX may fill the 314 gap. If the gap fills, then it would be a great level to manage risk and hold onto a few runners to see if the 334 level is retested. If NFLX breaks 334, then short will squeeze and the stock price of NFLX will explode higher to fill the next two gaps above 380 and 400 before 2nd week of January. For disclosure, we are long NFLX.