Earnings Pop to 520
Updated
Expecting a gap to 504-510 following the report today, then continuation to 520 by 1/31/2024.
- After it hits 520 it will pullback to test 504-510 for support
- Then continue to 556 by mid-late Feb. 2024
~Stop loss 464
- After it hits 520 it will pullback to test 504-510 for support
- Then continue to 556 by mid-late Feb. 2024
~Stop loss 464
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Black arrow is the expected path to targets.Comment
Boom. 525 at 4:03 pm... and rising, lets go.Comment
Netflix and chill?Comment
Lets see if this breaks 556 here. That level is an activate markup level, so a break above can see explosive continuation higher.If we get that it will need to come back and retest 556 for support before making sustained move higher, but so far very bullish.
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This is my AMD post reincarnate.. bring on the ignorant comments, those who followed me and trusted enough to play this, you deserve it congrats. Everyone else, you'll get it tho.Comment
The dashed yellow line on chart is an equilibrium time-point where supply = demand. The eq level this is associated with is 358 (MUCH lower than current price). These eq time points can still act as local tops, so a pullback next week likely. - Next target 590-600 on 1/29-1/30 (that will be the local top)
- Then pullback to test 569 for support again starting 1/31, if 569 and 566 do not hold as support, the party is over for the time being and it will drop to test 537
** I'll be taking profits 1/29 in the 590-600 range.
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Official forecast for next week:* Initial target = 584-594 by end of day Monday 1/29/2024 * (expecting this to gap to 585 and run for final subwave).
~ If you're in calls, take profits on half of position in this range. It can extend further but doesn't have to technically.
- Stop Loss = break below 548.46 at any point in time.
** Goal Target = 599-616 by end of day Tuesday 1/30/2024 ** (point target 607)
~ Take profits on half of remaining calls here. After this breaks above 585, stop loss will become break below 585 from there on out.
*** Bonus Target = 627 on Wednesday 1/31/2024 ***
~ Only keeping a few calls open to let run and see if 627 can hit.
I'll send an update when the party is over and I cash out on calls. I haven't sold a single one yet, check your hands.
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SPY currently has a nearly identical setup to what NFLX had going into earnings. For anyone interested in seeing this type of analysis work twice (not just luck), here is the link:
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You know you made a good prediction when you load new bars and have to scroll up on the chart because it went off the page..Comment
A break back above 570 will send this 585 (today 1/30 or tomo 1/31).Lets go.
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Added Feb 9 585 calls for 3.80Added Feb 2 575 calls for 2.73
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Lift Off. Bears get wrekd.Comment
Told you to buy/add yesterday.Comment
See my updated NFLX post for expected continuation move higher. Please refer to this idea "Post-Earnings Continuation to 585" going forward. Linked below:
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Expecting breakout around 12:30pm-1:00pm est today (2/2) - earliest.If we don't get it today it will happen early next week.
This is a reaccumulation phaase before the final move higher to 600s. Don't get shaken out.
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Finally hit 585 as promised - sorry for the delay. Watch it close here but I think it can go higher to 610-630 by Feb 23.Disclaimer
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