Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Netflix has been on fire at least until yesterday's -6.5% drubbing. Despite the three-day lull, NFLX remains up +9.4% this month. The red lines display negative divergence for the RSI, stochastics and money flow that want a pull back. Ditto the overbot conditions and ominous rising wedge. The MACD and histogram remain long and strong, however, similar to the Amazon monthly chart. NFLX would be expected to retreat but then recover to print a matching high again say a month or two out. At that time the MACD may negatively diverge which would identify the long-term top in NFLX. NFLX tags the upper standard deviation band so the middle band at 208, and rising, is on the table going forward. For the FAANG stocks, AAPL and FB are cooked. AMZN will likely top out in July-September. Ditto NFLX. The GOOGL chart is weak like Apple and Facebook. On the multi-month basis, the long-term top is likely in for Apple, Facebook and Alphabet (Google) right now. Amazon will top out next say in July-September and then Netflix will likely top out last in August-October. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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