Wednesday, October 06, 2010 12:33:09 AM
Re: NFLX - Very Well Bid; Watch For Reversal:
FUNDYS
Netflix has been very well bid over the years. I am not familiar with the fundamentals that leverage this ascent. Blockbuster has come to eat a piece of the movie-by-mail pie, whereas "RedBox" has elbowed its way to the leading crow but offering the most convenient, 1-dollar-a-day point-of-service kiosk studded in a growing number of cities in the US.
TECHYS
Technically speaking, the chart has been buoyed by two supportive bullish channels. Current indicators are getting taut to the overbought side and seem to beg some relaxation. Whether the relaxation is followed by a resumption of the bullish trend, or early reversal signals remain to be seen so far.
Nonetheless, ChiOsc is the first to fold, and typically, this may suggest some early institutional profit taking or position reversals. Look for OBV NEXT, then A/D line for a confirmation of a selling pressure.
I personally rely upon the RSI to provide the same reversal signals. If the current RSI's supportive trendline fails, then look at rallies in price to enter short position once the RSI line turns to overhead resistance. But first, it has to fail its supportive role. This scenario could happen within a few weeks.
OVERALL = Guarded. I would not look at any new long position until RSI bounces off of its support trendline. But, as stated above, it is now more likely to cross below it. If so, consider shorting at points where said line validates overhead resistance.
Hope this helps.
NFLX - 7-Yr., WEEKLY Chart:
- Dalcindo
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theparty Member Profile theparty Member Level Share Tuesday, October 05, 2010 11:37:40 PM
Re: dalcindo post# 61220 Post # of 61223
Thanks, D what do you see on NFLX chart?..
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- Dalcindo
FUNDYS
Netflix has been very well bid over the years. I am not familiar with the fundamentals that leverage this ascent. Blockbuster has come to eat a piece of the movie-by-mail pie, whereas "RedBox" has elbowed its way to the leading crow but offering the most convenient, 1-dollar-a-day point-of-service kiosk studded in a growing number of cities in the US.
TECHYS
Technically speaking, the chart has been buoyed by two supportive bullish channels. Current indicators are getting taut to the overbought side and seem to beg some relaxation. Whether the relaxation is followed by a resumption of the bullish trend, or early reversal signals remain to be seen so far.
Nonetheless, ChiOsc is the first to fold, and typically, this may suggest some early institutional profit taking or position reversals. Look for OBV NEXT, then A/D line for a confirmation of a selling pressure.
I personally rely upon the RSI to provide the same reversal signals. If the current RSI's supportive trendline fails, then look at rallies in price to enter short position once the RSI line turns to overhead resistance. But first, it has to fail its supportive role. This scenario could happen within a few weeks.
OVERALL = Guarded. I would not look at any new long position until RSI bounces off of its support trendline. But, as stated above, it is now more likely to cross below it. If so, consider shorting at points where said line validates overhead resistance.
Hope this helps.
NFLX - 7-Yr., WEEKLY Chart:
- Dalcindo
---------------------------------
In reply to:
Public Reply | Private Reply | Keep | Last Read Replies (1) | Next 50 | Previous | Next
theparty Member Profile theparty Member Level Share Tuesday, October 05, 2010 11:37:40 PM
Re: dalcindo post# 61220 Post # of 61223
Thanks, D what do you see on NFLX chart?..
---------------------------------
- Dalcindo
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