The gap on Netflix is nearly filledThe huge gap in the Netflix chart has nearly been filled up with the recent up trend which looks to me like a bearish rising wedge pattern. Could we soon see a reversal?
NFLX trade ideas
ABC Bullish/Rising WedgePrice is inside a rising wedge that has not been broken.
Possible RSI Divergence although it is subtle.
ABC Bullish pattern that is inside the wedge has taken price up.
Analyst upgrade.
The wedge is not valid until broken.
Targets 1 and 2 have been met.
No recommendation/There is resistance overhead.
NASDAQ NETFLEX goin short NASDAQ:NFLX
there is more than one signal showing us that the price will respect the the AB=BC pattern . and the rising wedge .
Take NFLX downNFLX Rising wedge with a bearish RSI divergence pattern as well. Let's take it down to 240.
Rising Wedge & Incoming Resistance on $NFLXWatching this setup for a possible breakdown on $NFLX.
Rising wedge within upward channel.
Still has room to go up before Approaching resistance from 323-335
Netflix to find support at 50 EMA again?Netflix - 30d expiry - We look to Buy at 281.11 (stop at 265.74)
Our short term bias remains positive.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
50 1day EMA is at 276.80.
The 1 day moving average should provide support at 276.80.
Daily signals are bullish.
Expect trading to remain mixed and volatile.
Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
Our profit targets will be 319.49 and 329.49
Resistance: 322.77 / 350.00 / 395.00
Support: 302.10 / 275.94 / 252.09
Disclaimer – Saxo Bank Group.
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NFLX Long positionNetflix is making HH and HL taking price target is 330 and i think it will roll over again, NFA
NFLX Following the channel here with Higher Highs and Higher Lows show bullish movement of NFLX, however I plan on a Short term ride back down to lower trendline indicated here and will enter when I get full confirmation with RSI crossing back down as in previous others shown by arrows. What do you think??
Trade safe and have fun! Follow me on my voyage from 1k to 10mil! Navigating stocks instead of ships! Cheers!
NFLX Super BullishNFLX has been super-bullish from quite some time. When SPY visited 348, NFLX was consolidating in a range and didn't go down as expected.
NFLX latest breakout moves have been very violent. As marked, the last breakout gave 22.5% in just 5 days (19.5% in just three days from low of first green candle to high of the 3rd candles)
Now, NFLX has broken out again and we have two long bodied green daily candles. If it is to repeat the last move, we could see 327-330 today and gap fill most probably Monday or Tuesday.
NFLX has formed **two white soldiers** on the daily and another such candle will complete the three white soldiers. In this case, the short and intermediate term is bullish and it might even go higher than 333.9 before retracing. One thing to keep in mind is that there might be consolidation after the three white soliders which is pretty normal.
Overall, NFLX is quite strong and we might see 350s before the next Interest rate decision and CPI reading. However, there might be a pullback after the gap fill.
Other interesting things to note, In the last two moves, NFLX has retraced somewhere between 50-61.8% of the move
First move was 44.16% from 13 October till 26 October (partially fuelled by earnings), then it retraced around 55% of the move.
Second move was 23.9% from 7 November to 15 November and the retrace was almost 60% of the move
So, if we assume that the move will be 23.9%, we could assume a high of 333.9 and with that in mind, the 50-61.8% retracement will bring it somewhere between 298-305 (will most probably dip below 300 and then break out).
Profit taking levels
1. Most of the gapfill (327-329)
2. Full gap fill (333.2)
Be Cautious around 333.2-333.9
You can also play the retrace, however, this time it might make a move higher than 333.9 before retracing.
How to be confident about the retrace
Wait for at least two rejections on the daily with long wicks to the top (last rejection was 3 candles and the one before that was 2) but the long will confirm that buyers are running out of steam (if you want an early entry, you can wait for 3 rejections on the 4h)
There could be fake retracement so I would wait for it to close below a certain level it broke on the way up.
Going Long on Netflix - Strong Trend Line Long on Netflix. Stop loss lower than previous higher low and take profit upto fib retracement. ABCD Pattern shows potential target
NFLX long if above 322As you can see by the chart trendline of wedge was broken. Long wicks circled by ellipses indicated bullish at resistance but it broke back down to take out the stop losses set by many who were anticipating a breakout. Re confirmed back above trend line with new wicks ellipses and retest for breakout to fill gap around 330. I will enter longs if above 322. Otherwise I will expect a breakdown to fill out rest of wedge from previous idea post.
Cheers!!
Trade safe have fun!
FOLLOW ME ON MY JOURNEY FROM 1K TO 10MIL!!
NETFLIX 1D Golden Cross historically shows fast recovery.Netflix (NFLX) completed last week the Golden Cross pattern on the 1D time-frame, which is when the 1D MA50 (blue trend-line) crosses above the 1D MA200 (orange trend-line). By doing so it closed yesterday above the 1W MA50 (red trend-line) for the first time since January 06 2022, practically when its Bear Market was confirmed.
Since it started trading, NFLX has had a 1D Golden Cross pattern while below the 1W MA50 another three times (October 07 2016, December 17 2012 and June 02 2005). On all cases, the price recovered at least the 0.786 Fibonacci, very fast. During 2016/17 it recovered the previous High in just 94 days since the 1D Golden Cross formation. In 2012/13 it recovered the previous high in 264 days, while in 2004/05 it recovered the 0.786 Fib in 200 days.
The worst case scenario of 2004/05 would have Netflix hit $511 by June 08 2023. Do you agree? Which of the 3 scenarios do you think is more likely to happen?
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NFLX: GAP FILL PLAY AND POTENTIAL CUP N HANDLENFLX has lost 76% from its November highs to its July lows.
Looking at the chart from a purely technical point of view, here is what I see:
- the stock has not retraced much of its down move. A 0.382 retrace would be at $366 and a 0.5 retrace would be at $428.
- There's a huge gap between $331 and $249/250. If we were to fill the gap, the target would be $331. To play the gap fill I' d wait for the price to break $250.
- A cup and handle is forming with a target between $331 and $366. However the pattern will only be confirmed should we break $250.
I'm neutral now, but I'm watching the stock closely. A break of $250 would trigger a long entry with a stop at 240.
Keep it on your watch list.
Trade safe.
$NFLX Daily Time frame idea.$NFLX on daily time frameshows some bullish sign. The price need to fill the previous "GAP" which at $332. The price will expected to go upward if fundi show some good data in order to fill the previous gap.
Recap : Quicktrade 193 : NFLXThe price triggered the bullish level and moved to target and even higher.
Max Drawdown 0%
Top Performance +4.5%
Going Long on NFLX!The stock shows strong support by bullish parallel channel as well as confluence of a bounce back from C retracement arm of ABCD harmonics pattern.
The buy time is just right, and buyers should aim high to 336 price.
Mean Reversion Strategy with High Win Rate on NFLXThis is a mean reversion strategy which was developed and analyzed for over a year. It has proven to be profitable and has high win rate over 300+ stocks listed with S&P500 index. The strategy works by determining if a stock is in an uptrend and identifying highly probable long entry points within the trend.
NFLX AnalysisPrice is playing out as analyzed last week. We do see volume picking up at the bottom of this down move. My expectations are unchanged, expecting price to mitigate the bullish POI at 266.08 before going higher.
$NFLX next target $148$NFLX just rejected resistance in the $300 for the second time and has fallen back below. It looks like price has formed a rising wedge of sorts and upon a breakout fo the structure, would see a breakdown to the $250 range.
However, I don't think that will be the low as price has never tested that $250 support. I think it's likely that we'll break that support area and take out the previous lows ~$170ish before bottoming in the $148 region. Let's see how it plays out.
NETFLIX $360+Looking at the daily chart of NFLX we see the Ichimoku Cloud is showing us signs of an uptrend. As price is above the cloud we can see the green is on top of the cloud and the red is now on the bottom. For NFLX to continue this trend we need to see it bounce of the green lines of the cloud... As we did not hold the red line (Kijun sen)... It is now expected for NFLX to fall to the next support level which the green line of the cloud acting as support.
