{"id":12768,"date":"2012-07-16T23:20:54","date_gmt":"2012-07-17T03:20:54","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=12768"},"modified":"2012-07-16T23:20:54","modified_gmt":"2012-07-17T03:20:54","slug":"bottom-for-netflix-not-confirmed-until-next-earnings","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/07\/16\/bottom-for-netflix-not-confirmed-until-next-earnings\/","title":{"rendered":"A Bottom for Netflix Is Not Confirmed Until Its Next Earnings Report"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on July 11, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

In the past, I have only had bearish things to say about Netflix (for example, “Netflix Tags the $110 Target But More Downside To Come<\/a>” from September 30, 2011). However, I feel like I can finally say something positive about the stock, even if my words are laced with caveats.<\/p>\n

{snip}<\/p>\n

The daily chart below shows how the recent breakout is very similar to the one that began 2012. Both feature runs above the 50-day moving average (DMA). The last rally produced a 67% gain in less than six weeks and included a strong response to an earnings report. The boxes in the chart below highlight the breakout points.<\/p>\n

Click for a larger view…<\/strong><\/em>
\n


\n
\"A<\/a>
A repeat breakout for Netflix<\/figcaption><\/figure>
\n<\/center>
\n
\nThis repeat breakout is doubly important because it is coming off critical support that could mark a bottom for NFLX. The weekly chart below shows that the recent selling finally ended not only around the last bottom from November, 2011, but also right where NFLX experienced a major breakout in 2010.<\/p>\n


\n
\"NFLX's<\/a>
NFLX's second breakout from critical support may have finally produced a bottom<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

{snip}<\/p>\n

Be careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on July 11, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Long NFLX shares and puts; long FB<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on July 11, 2012. Click here to read the entire piece.) In the past, I have only had bearish things to say about Netflix (for example, “Netflix Tags the $110 Target But More Downside To Come” from September 30, 2011). However, I … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[482,219,599,511,62],"tags":[404,405],"class_list":["post-12768","post","type-post","status-publish","format-standard","hentry","category-breakout","category-high-tech","category-internet","category-support","category-technical-analysis","tag-netflix","tag-nflx"],"yoast_head":"\nA Bottom for Netflix Is Not Confirmed Until Its Next Earnings Report - ONE-TWENTY TWO: Trading Financial Markets<\/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:\/\/drduru.com\/onetwentytwo\/2012\/07\/16\/bottom-for-netflix-not-confirmed-until-next-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Bottom for Netflix Is Not Confirmed Until Its Next Earnings Report - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on July 11, 2012. 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