NFLX Ascending Triangle, 2nd chance divergence
NFLX has been great all summer. Technical Analysis has played out beautifully. Now it has formed an ascending triangle and we are looking to break on through the highs.
If you look at the stochastic, often times there is a 2nd opportunity to enter a divergence position.
When the stochastic diverges, gets overbought (80+), and then rolls all the way back down to oversold, which it has done, you can usually expect a continuation of momentum. This is common and hopefully it will play out as expected so it can serve as a prime example of the 2nd chance divergence.
I like how NFLX is set up and I like how it has been playing out.
Not setting targets or triggers on this one. It is more for education and to create a record.
As always, it could fail! Nothing is a certainty.
See my post on NUAN for a similar setup
Visit jbzstocks.com
for more and sign up for the mail list to get exclusive alerts and more.
If you look at the stochastic, often times there is a 2nd opportunity to enter a divergence position.
When the stochastic diverges, gets overbought (80+), and then rolls all the way back down to oversold, which it has done, you can usually expect a continuation of momentum. This is common and hopefully it will play out as expected so it can serve as a prime example of the 2nd chance divergence.
I like how NFLX is set up and I like how it has been playing out.
Not setting targets or triggers on this one. It is more for education and to create a record.
As always, it could fail! Nothing is a certainty.
See my post on NUAN for a similar setup
Visit jbzstocks.com
for more and sign up for the mail list to get exclusive alerts and more.
Trade fermée: cible de profit atteinte