Stock Of The Day: Classic 'Flag' Pattern In Netflix Could Mean A Move Higher
Trading in Netflix, Inc. NFLX is quiet Wednesday as the stock continues to consolidate. But there is a chance the recent uptrend may be about to resume.The price action in the stock may be creating a classic ‘Flag Pattern'. It has bullish implications and suggests that the shares may move higher. This is why it is our Stock of the Day.Technical analysts look for patterns on charts. These patterns form as a result of the price action of a stock.For example, if the leadership of a market changes from bears to ...