Chart of the Week: Netflix
This week we’re going to be profiling Netflix; NFLX. It got here out with earnings final week, and so they had been fairly sturdy, and the inventory is doing fairly properly nonetheless post-earnings.
You’ll be able to see the inventory has put in a pleasant sequence of upper lows right here, and we do have a channel right here. So that you may say, “Effectively, don’t we need to wait til it breaks out of the channel?” And normally the reply to the query is sure. However the inventory has made a transfer in about 5 classes to the highest finish of that channel. And if we pull again on that and make a transfer again up above that channel, we now have a better low in place, and we might make a pleasant sequence of upper highs and better lows all the best way up. We’ve had good quantity, too, on the previous 5 classes.
MACD has turned up as properly. Simply earlier than earnings got here out, it had a bullish crossover.
Chaikin Cash Circulate can be actually sturdy.
Check out the buildup distribution oscillator on the backside right here. It has made a very daring transfer right here. It’s above the zero line; the CMF just isn’t fairly above there but. Accumulation distribution signifies that extra massive establishments are shopping for the inventory when you may have these massive quantity strikes over right here.
Value motion is nice, quantity is powerful, and we might see the inventory making a transfer possibly again as much as these July highs about $545-548 over the subsequent couple weeks.
That’s Netflix. Thanks for watching everybody, and I’ll see you subsequent time.
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