NFLX

Looking better, could sprint higher after European close.

 

Next stop $90 guys,

 

With such a pace NFLX will easily back to $85.

 

Tough for many to trade this stock but pro can easily milk a lot of money on the expenses of amateurs

 

$MSFT buys $LNKD at that price. So, $NFLX isn't overvalued lol

 

The chart looks great but will it overcome $45 a possible reversal zone.

 

Bullish engulfing today, a cluster of SMA's up above here. 97 R, 93.3 support

 

This could see 91.50-91 with one good push lower here

 

The same as on the AAPL stock, the NFLX stock is declining to its strong support level for forth time over the past year. Three times the Netflix bounced from the $85 level. Each new time we had weaker bounce: first time we had 56% recovery and the NFLX sock even made new historical high, second time the NFLX had 40% bounce and third time this stock moved only 20% up.

A year ago $85 level was very attractive to bullish traders and they were strongly buying the NFLX stock. However, with time after next bounce up, the same as with APPL stock we see less Bullish traders jumping in to invest into the NFLX at $85 support level. If the NFLX drops further closer to the $85 support level for forth time, there could be not enough Bullish traders to reverse this stock up. In addition, everyone who bought this stock after April of 2015 will be in loosing position. If this level is broken then the next possible NFLX stop is down around $66 level - this is where the highest trading activity was noted (highest volume was accumulated) over the past 2 years:



chart courtesy of http://www.marketvolume.com

 

Under pressure and if market helps it push back to $95/$98 it looks $78 is more likely than $110