WEEKLY CHART
- NFLX Daily chart with the ascending channel formation which shows the strong up trend of the stock.
- But last weeks price action was negative for the bulls of NFLX.
- The negative price action is yet to test the GAP between 155 and 165. If the gap begins to fade price may test the lower support line of the channel and go up from there.
- Weekly chart also shows a negative candle a PIN BAR which is a strong reversal candle. Candlestick pattern needs confirmation so only if the price closes lower a trend change can be expected. So before one decides to shot NFLX they should have the primary trend of the stock in mind which is UP.
- So buying on dips closer to the lower support line of the trend line is advisable.
- BAIDU WEEKEND UPDATE
No comments:
Post a Comment