October 3, 2012

NETFLIX Descending triangle and Triple Bottom



  • Netflix daily chart shows resistance near 59.12 which is the 50 Day SMA.
  • Weekly chart shows resistance line at 60 levels.
  • Daily chart shows a Descending triangle pattern and a Triple Bottom bullish reversal pattern. Above 59 - 60 levels Triple bottom pattern will work well for bulls. Bears need to break below 52.80 levels for a possible breakdown.
  • S&P 500 ANALYSIS AFTER CLOSE


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