Did The Chart Tell Us Anything About Netflix?
Did the chart warn us that Netflix was about to drop 13%? Let's go to the chart courtesy of Erlanger Chart Room.
We note that in this chart we are not looking at simple candlesticks. Instead we are looking at Heikin Ashi candlesticks. They turned red a couple days ago.
Next the Erlanger Volume Swing (EVS) turned down and crossed below its 20 day moving average (red line).
Third, the Erlanger Crossover Spread (EC Spread) turned down and is now negative.
However, the Displaced Moving Average which we use to track the bias on any period, in this case weekly, was still positive. So the signs were there of possible top.
Get the information you need to make profitable decisions first thing in the morning. Access to the information is FREE, not knowing it could cost you a bundle!
Superstock Investor Newsletter
Published once a month. Get the big picture, what happened last month and predictions for the month ahead.
Take advantage of the knowledge provided by people who live to monitor the Stock Market. People like:
Get access to information from publications like:
Not a Subscriber?
Superstock Investor's goal is to provide subscribers a steady stream of original stock ideas with an emphasis on takeover candidates. These are companies that have flown onto our radar screens as potential takeover targets, or special situations with some catalyst promising to send their shares soaring. Continue..