Netflix Inc (NFLX)

[MarkusT]

Share of Netflix Inc (NFLX) surged higher today after reporting better than expected earnings. During market hours the stock traded as high as $143.46 before reversing to the downside. While still positive, the stock is trading up just 5% at $139.90. Most average investors look at Netflix and think, "What a nice pop, isn't it pretty? I wish I owned some. I wonder why it topped at $143.46?" However, smart investors who know how to see levels in the stock charts already reacting and making money. They know exactly why the stock topped at $143.46. To smart investors it is about as clear as a crystal. Connect the highs from May 26th, 2016 to October 24th, 2016. Continue the line up and you get the exact high of today. Netflix never had a shot to go higher. It was already determined based on the stock chart trend line. In addition, looking at the financial numbers from earnings, they are are burning a ton of cash and probably need to do a capital raise. Investors should be very careful buying up in this range. I would favor downside more than upside at this point.



Investors and traders hit the stock chart top on Netflix Inc