5Y MACD Signaling Bullish Confirmation -- $400 pop before ER?
Obviously, the 5 year trends are not the ideal charts to singularly refer to when considering a trade... however, considering the FANG composite's short-term trendline and NFLX 1Y chart, this technical analysis seems quite relevant... while looking at the 1Y for NFLX, it seems it could go break free in either direction to next support/resistance; however, considering 5Y MACD signal line making recent bullish confirmation, along with appropriately rising RSI, this looks to be at the point of a breakout in the upwards direction. Also, the Chande Mom shows nearly identical setup as previous $400 breach. The money doesn't exactly seem to be there as it was, but if you follow this, it may be too late if they rush in... upon good ER, this could see new all-time highs... short-term, I'm optimistic about NFLX.
Please consider this a journal entry and not professional trading advice.
UPDATE: If this does not break through this first resistance around $380, then it could retest $340 support... this would not be too much fun for shareholders...
Please consider this a journal entry and not professional trading advice.
UPDATE: If this does not break through this first resistance around $380, then it could retest $340 support... this would not be too much fun for shareholders...
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