NFLX - a member asked me about NFLX if it could be forming a cup and handle pattern. Yes perhaps, it was an old pick of ours back in Dec which played out well, of course I didn't hold it the 70's to $130, heck of a run
anyway the cup and handle pattern is valid, but you want to see volume pick up on a breakout, if it were to sell down again and take the Mar low or spend too much time going sideways, then it would no longer be this pattern. What troubles me somewhat is the time of the year, we are fast coming up on the sell in May and go away, which actually starts in April if you get a MACD cross via the MACD timing. so will it have time to play out to target about $200 before sell in May hits? IDK.
also it's plotted on a log chart, and is why it looked condensed. the pattern is approximately $70 points in height, so if you add this to the trendline, you get about $200, which also matches up nicely with previous support back in Aug.
who knows,we'll see I guess....
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