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Monday, August 06, 2018 4:06:51 PM
By: Mike Paulenoff | August 6, 2018
NFLX-- has climbed to an important near term inflection zone at 348.00/40, which if hurdled and sustained, will argue strongly that the stock completed a 6-7 week correction from its 6/21 all-time-high at 423.58 to its unconfirmed 7/31 low of 328.00-- and is in the early stages either of a new upleg or a powerful recovery rally that projects to 395-400 in any case.
As I type this update, NFLX is trading at 348.92/93, above the 348.00/40 resistance zone... Let's see if it can follow-through to the upside and sustain the gains into today's close...
8 06 18 NFLX 1 GIF
https://www.mptrader.com/middaymarkets/
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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