Now now before you count this possible head and shoulders out I will ask for you to take a look at the Daily first. Double top am I right, now this is a longer time frame so bulls be careful on what's to come.
Now there are two options on what can exactly happen here but one thing I know forsue is that a breakout is coming either to the downside or upside. I personally wouldn't make any moves on it until the setup is complete.
Mark my words , we heading under to touch the demand zones which is right above 390 and below it.
I mean this is just textbook analysis, but for those that dont know this is the most simple rising wedge i have seen, I personally would say that nflx has one more leg up before a break below the wedge. I will keep tracking it. Again this is the DAILY chart so dont screw yourselves.
To those that dont know whats been happening heres my analysis,(1) on the weekly chart we are in a rising wedge as shown, (2) we rejected the weekly supply and its loosing steam. I was hoping a rejection off 415 but it looks like it wasnt stong enough to push past 410. Trade safe and be aware of whats to come. If anyone else has a different input then please share.
Its seems that we happen to possibly be in Continuation pattern expanding triangle. However there is a chance that is unlikely just because it is less common. However this is how I see it playing out .Ill be bullish in the beginning of December or somewhere around that.
Im not 100% about this but its just a theory. I personally am midterm to longterm Bearish on the market. Feel free to share your comments and let me know what you think.
This is what I believe the movement for Apple will be . We are soon about to enter a bear market so just be prepared and dyor!