The entire market is looking bearish, at least for the time being, but the reason I chose NFLX is because not only did it lose the Daily 50 SMA, but also because of the massive Head & Shoulders pattern that has been forming since June, with support at the neckline around 412'ish to 415'ish.
If it breaks below the neckline, lookout below. It would be looking extremely Bearish with support at the Daily 100, 150, 200 moving averages as well as the trendline.
Warning: This is strictly an idea which don't always play out and in no way is financial advice. It is merely an opinion.
Happy Trading!
If it breaks below the neckline, lookout below. It would be looking extremely Bearish with support at the Daily 100, 150, 200 moving averages as well as the trendline.
Warning: This is strictly an idea which don't always play out and in no way is financial advice. It is merely an opinion.
Happy Trading!