December 26, 2010

Bullish hammer of NFLX

  • NFLX Has given a hammer pattern in daily chart. It has come near the support and resistance line.
  • Hammer is a bullish reversal pattern. Like all candlestick pattern this one too need confirmation. Break of the resistance line will be the confirmation to go long. Bulls may gain momentum once they cross 189.76.
  • Break of the support line will be negative. Bears will be stronger if price falls below 175.56.

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