The noose is tightening as indecision reigns supreme for Netflix. After more than doubling, the stock moved into a tight range the last two months. Notice that BandWidth is below 7% as the Bollinger Bands narrow. The range break will deliver the next signal. An upside breakout at 195 would be bullish, while a downside break at 175 bearish.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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