NFLX Support Test
NFLX has been maintaining its uptrend since 2022, but it is sitting on key trendline support after a weak performance last week. This trendline goes back to January of this year, so if it is broken to the downside it should see some continuation. It may fall all the way down to the trendline support from the uptrend that started in 2022. Things could get really bad if it doesn't hold there.
To the upside, it'll need to break above ATH and hold any retests. There's also the upper end of the ascending wedge that it will need to contend with. For now I'd say it looks like a potential double top and trend break to the downside. Hasn't happened yet though.
To the upside, it'll need to break above ATH and hold any retests. There's also the upper end of the ascending wedge that it will need to contend with. For now I'd say it looks like a potential double top and trend break to the downside. Hasn't happened yet though.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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