{"id":22378,"date":"2013-09-17T13:16:33","date_gmt":"2013-09-17T17:16:33","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=22378"},"modified":"2013-09-17T22:11:50","modified_gmt":"2013-09-18T02:11:50","slug":"has-netflix-topped-out","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2013\/09\/has-netflix-topped-out\/","title":{"rendered":"Has NetFlix Topped Out?"},"content":{"rendered":"

We have had a very good run in the stock of Netflix (NASDAQ:NFLX<\/a>) and the question now is, has Netflix topped out?<\/p>\n

\"netflix\"<\/a>There is increasing evidence that Netflix is having problems over the $300-$310 area. With a lower close in this stock today, it will confirm that it has put in an intermediate top.<\/p>\n

Yesterday, Netflix (NASDAQ:NFLX) put in a Japanese candlestick pattern known as \"a dark cloud cover.\" This is confirmed as a top if the market closes lower today, September 17th. Candlestick patterns can be very powerful. This is not to say that Netflix has put in an all-time top, but rather in the interim the market has stopped going up and is probably going to see a pullback.<\/p>\n

\"NETFLIX<\/a>
\nPullbacks are always interesting and I like to use our Fibonacci retracement tool to measure them. In 2013, most of the pullbacks were in $30-$40 range. Measuring from the recent high of $314.18 on September 11th and subtracting $40, takes us down to $274 area. Coincidentally this is very close to a 50% Fibonacci retracement if we measure from the recent high on September 11th to the low seen on July 25th at $239.91.<\/p>\n

I have two other concerns with Netflix (NASDAQ:NFLX<\/a>). We are at a cyclic high and the MACD is beginning to roll over, which is similar to what happened in the May and July periods.<\/p>\n

Please be aware I am not recommending shorting Netflix, as the longer-term trend for Netflix remains positive and I can see this market doing well longer term as it dominates the space of streaming video and home entertainment.<\/p>\n

Let's watch today's close in Netflix very carefully. A close below the $301.13 level will represent a new 5-day low close for this stock.<\/p>\n

This is just a heads up that Netflix may be running into some headwinds and profit taking.<\/p>\n

Please feel free to leave a comment or your own view on the stock.<\/p>\n

Have a great trading day,
\nAdam Hewison<\/a>
\nPresident, INO.com
\nCo-Creator, MarketClub<\/p>\n","protected":false},"excerpt":{"rendered":"

We have had a very good run in the stock of Netflix (NASDAQ:NFLX) and the question now is, has Netflix topped out? There is increasing evidence that Netflix is having problems over the $300-$310 area. With a lower close in this stock today, it will confirm that it has put in an intermediate top. Yesterday, […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[188,183,368,1130,1851,5613,2975,1526,5587,2976,1290],"class_list":["post-22378","post","type-post","status-publish","format-standard","hentry","category-trading-videos","tag-adam-hewison","tag-cycles","tag-dark-cloud-cover","tag-fibonacci-retracement","tag-japanes-candlestick-charts","tag-macd-indicator","tag-marketclub-techniques","tag-netflix","tag-netflix-inc-nasdaqnflx","tag-tips-talk","tag-trade-triangle"],"yoast_head":"\nHas NetFlix Topped Out? - INO.com Trader's Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2013\/09\/has-netflix-topped-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Has NetFlix Topped Out? - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"We have had a very good run in the stock of Netflix (NASDAQ:NFLX) and the question now is, has Netflix topped out? 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