August 6, 2011

NFLX Weekend Update

  • Netflix having broken its 50 Day Moving average is moving towards its 200 Day Moving average.
  • Price is also showing an important trend line break in weekly chart.
  • 200 DMA is around 222, Weekly line chart is showing support between 228 - 235 levels.
  • Stochastic indicator is showing oversold readings, But price has not shown any reversal sign yet.
  • If stochastic line stays below 20% line one can stay short. Since Stock is oversold one should look for bullish reversal candlestick patterns or break and close above 20 day moving average to go long.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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