Sometime stocks breakout on high volume and then go sideways or pullback. Once the big move is digested the stocks can resume the trend.
NFLX and AMZN are two recent examples of this. In both these cases stock gapped up big on earnings. After that NFLX has gone sideways in a very narrow range. It can breakout to either side.
AMZN has pulled back and now a good candidate for a bounce trade. Better entry on it was yesterday.
NFLX and AMZN are two recent examples of this. In both these cases stock gapped up big on earnings. After that NFLX has gone sideways in a very narrow range. It can breakout to either side.
AMZN has pulled back and now a good candidate for a bounce trade. Better entry on it was yesterday.
No comments:
Post a Comment