After years of charting I am sharing my first chart. I think it is self explanatory. Red lines are down Grey lines below are possible resting points for price. Depending on world status the price may break the lower red line. Started short positions after last earnings.
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Since price broke the top red line as well as the grey line im out of this trade
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Started a short again. Same price now as on wednesday july 19th. Stop loss set just above that price at 490.
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closed this short prematurely in order to buy more of another stock on the possibel breakout two days ago, see my other two ideas, JOBY and NOVA
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I see NFLX is trading back at the price of 480usd. Would not be suprised if this is not a triple top and go down again, but that price action will take it up to 508usd. As always, action is dynamic and flexible so we have to be flexible and dynamic too. Anyways, I do not have a position in this stock anymore as previously stated. Good luck!
Comment:
Added some grey resistance/support lines on the weekly chart
