Monday, August 29, 2016

Netflix, Inc.: Large Pull Back Coming

Netflix, Inc. (NASDAQ:NFLX) is fast approaching its 52 week highs at $458. This is what traders refer to as a major double top. A major double top is established when a stock puts in 52 week high and then tumbles over 25%. Netlifx, Inc. tumbled 35% before the recent rebound. Essentially, this means that there are a lot of bagholders that bought at the highs and have been wishing and hoping it comes back to that level so they can sell for a break-even. As Netflix inches closer to the $458 level, these sellers will begin to dump. This will likely cause a retrace back down to the tune of 38.2%, a Fibonacci level. This retrace would take the Netflix, Inc. back to $400.00 and be a great profit opportunity as a short from current levels.

 

 

Gareth Soloway

InTheMoneyStocks.com



[[T_F]]Data Leak Prevention – Data Security Solutions – Information Theft Protection, Detection and Prevention Software Productstracefusion_signature=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[[T_F]]



| More

Random Posts

Leave a Reply

Back to Top

Social Media Profiles

ADVERTISEMENT

BUSINESS NETWORKS

The New York Times logo CNN logo ABC logo CNBC logo