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.

#NFLX #Bottoming #OnWatch

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“Money is made by sitting, not trading.”

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“It takes time to make money.”

“Don’t give me timing, give me time.”