A Sloper mentioned a stock I actually stopped thinking about, Netflix (NFLX). I took a look, and the stock has almost perfectly sealed a price gap from eons ago. I’d say this sucker is toast.
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The right triangle pattern, coupled with the near-closure of a price gap, is making this an increasingly appealing bearish setup. It might have a bit more to go, since the gap for DLTR isn’t quite sealed up yet.
Gaps are very interesting to me, although I’m not quite sure of their logic. LYFT, for instance, had a price gap from eons ago at $15.99. Yesterday the price leaked at $15.95 and is now backing off. I’d thus consider the price gap sufficiently sealed, following a doubling of price since May.(more…)
Interest-sensitive instruments have been on a rocket ship from October 23rd until this week. It looks like, at last, we discovered a point of resistance that actually mattered: the price gap I’ve highlighted below.
Well, that’s that. Both TBT and TLT have sealed their price gaps. It would be QUITE appreciated if that was the limit of the bond move, thank you very much. We shall soon see.