Hello Traders!
The chart of NFLX is a great example of using clues to decipher a future move.
Prior to earnings we had major bearish indicators on the chart that hinted towards a move down on earnings.
1) Break below major trendline
2) Bear flag
These two signals by themselves are very bearish however the fact that these signals appeared coming into earnings was an even strong indicator of a potential for negative move.
Now that the upward trend is broken NFLX has a long way to fall before reaching the next key support level.
Thanks everyone and best of luck on your trading journey!
The chart of NFLX is a great example of using clues to decipher a future move.
Prior to earnings we had major bearish indicators on the chart that hinted towards a move down on earnings.
1) Break below major trendline
2) Bear flag
These two signals by themselves are very bearish however the fact that these signals appeared coming into earnings was an even strong indicator of a potential for negative move.
Now that the upward trend is broken NFLX has a long way to fall before reaching the next key support level.
Thanks everyone and best of luck on your trading journey!
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