$NFLX Up 46% - What's The Signal Indicate?
Netflix is up a whopping 46 percent since the broad-market bounce on Dec 24 (indicated range bottoms in "Christmas is Cancelled").
Whether you think it's justified or not, the quantitative signaling indicates that the move may have more to go. Price action has closed the week above it's near-term TACVOL range top and may digest gains ahead of earnings (Jan 17). With a near-term score of 1.84, it's becoming extended. However, it's intermediate top range is $403 with a score of 1.05 signaling a bullish trend.
Those long, it would be prudent to take a little off the table going into earnings.
Whether you think it's justified or not, the quantitative signaling indicates that the move may have more to go. Price action has closed the week above it's near-term TACVOL range top and may digest gains ahead of earnings (Jan 17). With a near-term score of 1.84, it's becoming extended. However, it's intermediate top range is $403 with a score of 1.05 signaling a bullish trend.
Those long, it would be prudent to take a little off the table going into earnings.
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