NFLX Possible Double Bottom Reversal?

NFLX chart from Freestockcharts.com

Today NFLX (Netflix) had a really great day, it traded as low as $72.49, as high as $78.39 and closed at $77.38. That's a pretty good pop if you ask me. Now we all know this stock hasn't been given any love and has been declining for the last year. In the chart you can see the Stochastics, MACD and RSI  are just about crossing to the upside, meaning this stock can move up even higher soon. Another thing that strikes me about NFLX is the fact that it just did a double bottom. I know that it's not a perfectly straight line as it should be to have a confirmed double bottom, but it's pretty close. All this means is that this stock could reach the mid hundreds soon and that's obviously a good thing! Only thing that concerns me is the Bollinger Bands and the Parabolic SAR, they both still say downtrend to me. Other than that, this stock is looking ready to buy. 

This could be the turn around for this stock to get it back on its path to $300. Let's not get too crazy though, for the short term we can see a future conservative stock price of $100 and a riskier price of $150. Good luck and happy trading!

What do you think, can Netflix turn their business back around?


New article on stock ticker symbol NVDA.
New article on stock ticker symbol LVS.
New article on stock ticker symbol LUXR.
New article on stock ticker symbol AMRN.
New article on stock ticker symbol OC.


Follow me on Twitter!