The trading diary of Paul J. Singh. I trade full-time and empower traders by making the complex simple. I can be contacted at SinghJD1@aol.com
stock bounced off its uptrend support line, OBV is positive, stock showing great reletive strength vs overall market, as the economy slows people will turn to cheap alternative forms of entertainment, good volume yesterday, Gartman also is pumping the stock,the option addict is pumping the stock, AND cause the stock is giong to make new highs and hit 50! (ok maybe not 50) disclosure: long NFLX since 28ish when it broke to new highs...
Would I be right in saying you entered because it appears to be consolidating after the recent rise, bounced off the middle of the BB which it has not pierced sine the uptrend began. Also the Stochastic has turned north?
Great analysis guys.
considering we have a macd crossover and an unfilled gap just below 30, I would avoid for now. a b/o w/ volume to new highs would change my tune
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