A Large Ascending Triangle on the Netflix Weekly Chart

By | August 30, 2014

29. NFLX weekly chart

A large ascending triangle has been forming on the weekly chart of Netflix (NFLX) for most of the year. The trend is obviously higher, but the MacD is in bearish divergence to price and volume is dropping off. The pattern has the potential for a large move. Let it play out either to the upside or downside, and look for an increase in volume for confirmation.

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