NFLX - Multiple Channel Bounce/Break Opps on Positive News
NFLX - With a powerful bounce off trend line
support at the end of Dec, NFLX rallied into
earnings and profit takers moved in, bringing
share prices down to rest just above the 100ma
at 316.83. New entries may consider waiting
for a break below or bounce off the 100ma support.
A break below could see support at the 20ma
near 305 or the 50ma at 287 mark as price action
bearishly moves towards bottom channel trend line
support. Look for cross over RSI 50 and Macd signal.
support at the end of Dec, NFLX rallied into
earnings and profit takers moved in, bringing
share prices down to rest just above the 100ma
at 316.83. New entries may consider waiting
for a break below or bounce off the 100ma support.
A break below could see support at the 20ma
near 305 or the 50ma at 287 mark as price action
bearishly moves towards bottom channel trend line
support. Look for cross over RSI 50 and Macd signal.