NFLX – the internet movie giant before earnings release. We’re keeping our position and expecting NFLX to break higher to new all time highs. The chart below has elements of a saucer and handle style base. Not quite deep enough for a cup. Volume in the base is very constructive – looks like institutional accumulation.
Some key points with Netflix and why we think it will be a big winner:
NFLX – new product and service.
NFLX – new all time highs being hit.
NFLX has recently morphed from not only being an Internet tv/movie content delivery site but also producing its original content.
NFLX shows win awards – Emmy etc..
Earnings have been accelerating over the last two quarters.
At Trading Room we search for the biggest winning stocks in the market today.
We use market timing, industry group selection, and chart patterns with price and volume analysis.