Remember that old line in that old Rolling Stones song, “You may not always get what you want, but when you try, you get what you need”? Stocks can be that way for sure. There’s a reason that I like to use my box on boxes when I illustrate charts. They are clean, clear and concise. I want them going up form the bottom left of the chart towards the top of the right of the chart. I focus on tight price action, look for stocks with low short interest, hopefully with well established longer term bases, then wait for the Volume to come in and we are off to the races.

NFLX has been different. This is not by any means the prettiest chart I have ever drawn. But it is one of tremendous strength producing great results. This chart uses Daily Bars going back one year. ON the bottom left side we see what we call the “Inverted Head and Shoulders” pattern otherwise known as IHS.. It is an incredibly strong bullish pattern. The breakout that occurred in February proved itself. You can see it’s retracement back to the 550 area and BOOM off to the races it went. The last 3 weeks day traders and shorter term investors, especially Options traders have capitalized incredibly. If you would of bought at the breakout or even after the retest at the 550 area you would now be up 30% in matter of weeks. Options traders made over 10 times that.

Options traders also added to it here today, with the heaviest Open Interest being at the JUN 21, 2024 with the 700 Strike Price. Could it retrace and build a new longer term box here before it blasts off again? There’s a lot of interest at the 600 area…. Many already own NFLX, maybe it’s simply time to just sit back and chill……

Invest wisely, live charitably and be well

Brother Bill

DISCLAIMER: All content provided in this newsletter, blog, webinar, video, chart, communication is for Educational and Entertainment purposes only. Nothing included or mentioned is meant to be construed or used as trading / investment / financial advice. Trading / investing carries risk of loss, losses can and do occur. NO recording aloud…Know your risk and risk of loss before taking on any financial endeavors. Past performance is NOT a guarantee of future success. I am NOT a licensed or registered financial advisor or tax accountant. Prior to making any trading / investing /  financial decisions you should always consult with your licensed and registered financial advisor and tax accountant. There are no recommendations or solicitations  to buy, sell or hold any stock, future, options or bonds or any other financial entity in this newsletter. Nor are there any recommendations on any type or way or method to trade / invest. You do not have permission to redistribute this newsletter without my written permission first.