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Netflix (NFLX) Giant Symmetrical Triangle With A Bullish Tilt


Netflix (NFLX) hasn't seen new highs since December of 2015. Since then it has been range bound and forming a giant symmetrical triangle for the entirety of the year. This is constructive in many ways as it usually implies a continuation of the prior trend. However, this triangle can go either way.

BotTrigger issues no Buy signal at this time but NFLX is ON WATCH Alert.

Here on the monthly chart we have a bearish stochastics crossover that's still in the downpour phase. This should not be confused with an opportunity to short as it simply means that the path of least resistance is simply not higher during this phase. As of now, we have NFLX peaking it's head out of the symmetrical triangle and we are watching how price action deals with these levels.

BotTrigger still needs more evidence to officiate a Buy signal. Netflix rallies can be very powerful but at this time there the juice is not worth the squeeze.

 

Some of the greatest pearls shared by Jesse Livermore:

“Money is made by sitting, not trading.”

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

“Buy right, sit tight.”

“Nobody can catch all the fluctuations.”

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

“It takes time to make money.”

“Don’t give me timing, give me time.”

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