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Netflix, Inc. (NFLX) Message Board

  • sandyeggojake sandyeggojake Mar 7, 2011 10:17 AM Flag

    Are we seeing the rt shoulder of a head with shoulders pattern?

    A sideways move over the near term, followed with a move to ~$200, would seem to complete a head with shoulders pattern.

    The classic prediction of the down leg following such a confirmed pattern would then give a target of $153.15 ($247.55 - $200.35 = $47.20)

    Also note, it would seem this major move has died out in the range of a double top, which provides more confidence to those shorting the name as well as conviction of a top for those seeking to take profits.

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