Picture Courtesy of T.D. Ameritrade ~ Text typed on chart using Windows Paint
Remember that nice long article I wrote about Netflix (Ticker NFLX) the first day I published this blog? Well if you do (and I honestly hope you do since it’s only been something like 2 and a half weeks since I started the Prime Pick), then you’d know I covered Netflix extensively like how I covered Tesla for a little while. Anyways, I was on stockcharts.com (great site) just looking up some typical stocks because I was bored today and two stocks REALLY caught my eye. Want to guess what the other stock was? It was First Solar (Ticker: FSLR) which I’ll cover in another article (probably the next one). FSLR reached Multi-Year highs.
As you can see (where I’ve typed in the picture), if Netflix penetrates the $338.08 mark for 2-3 days, you can be guaranteed to see a Netflix run starting between November 19, 2013 – November 20, 2013. Why? Because it’ll be breaking it’s 50 day moving average and 200 day moving averages.
On the flip side, if Netflix can’t penetrate 340.44 by November 20, 2013, prepare for a nice little Bear run or at least a stagnation of stock price. Ultimately Netflix’s stock price hangs in jeopardy and can instantly go either way for the rest of the next two weeks, and if anything like Tesla happens to Netflix (or any stock really), you can rest assured that that particular stock is going to have a bad week. (Yes that sentence is supposed to have two that‘s in it.)
That’s my Prime Advice for today!