Chart of the week
Date: 04/06/2009
Symbol: NFLX
Company Profile: Netflix, Inc. provides online movie rental subscription services in the United States. The company offers its subscribers access to a library of movie, television, and other filmed entertainment titles on digital versatile disc (DVD).
Sector: Services
Industry: Music & Video Stores
TRADING PLAN
Entry price: above 44.00
Stop price: under: 42.50
Target area: 47.50-50 area
Chart explanation:
I like NFLX consolidation (triangle) and if pattern will hold I will take it above 44.00 areas what is resistance area. Next resistance is $45 area s number resistance area, but if we look at weekly/monthly chart we can se that NFLX have plenty of room for upside move since that will be new high ever. Because of that I will look for $47.50 as equal move and $50 area as whole number for target area. On the chart I draw triangle and equal move lines, but also we can see that is just part of cup and handle.
If you don’t understand or need more explanation feel free to contact me and I will give additional explanation and also I invite you to join me in my mentoring program what will start 04/13/2009. All information’s are on site under education and also always you can contact me for any information’s
Symbol: NFLX
Company Profile: Netflix, Inc. provides online movie rental subscription services in the United States. The company offers its subscribers access to a library of movie, television, and other filmed entertainment titles on digital versatile disc (DVD).
Sector: Services
Industry: Music & Video Stores
TRADING PLAN
Entry price: above 44.00
Stop price: under: 42.50
Target area: 47.50-50 area
Chart explanation:
I like NFLX consolidation (triangle) and if pattern will hold I will take it above 44.00 areas what is resistance area. Next resistance is $45 area s number resistance area, but if we look at weekly/monthly chart we can se that NFLX have plenty of room for upside move since that will be new high ever. Because of that I will look for $47.50 as equal move and $50 area as whole number for target area. On the chart I draw triangle and equal move lines, but also we can see that is just part of cup and handle.
If you don’t understand or need more explanation feel free to contact me and I will give additional explanation and also I invite you to join me in my mentoring program what will start 04/13/2009. All information’s are on site under education and also always you can contact me for any information’s
Ivica Juracicivica@ivicatradingcharts.com
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