DAL, GILD, NFLX updates 11/10

DAL: Not looking too good for the airliners longer term as DAL is working on a clear/text boon 5-waves down from (red) intermediate-b to around $48.70-$48.65 (grey minute i, ii, iii, iv and now v underway). We can see that iii tagged the 138.2% to the T, than iv back up to around the 76.4% and now minute-v underway to ideally the 176.40% extension at the aformentioned price target. That should then complete (green) minor-a/1 (unclear yet if intermediate-c will be 3 or 5 waves, though often it’s 5). Minor b/2 should then retrace back up 50-62% of this minor-a/1 wave to around 51.38/52.02, green box, which is right in the longer term S/R zone. The following wave down will then be minor-c/3 to possible $42ish. But for now, short term will look up, longer term down…

dal daily

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GILD: in the prior update (see here) I was looking for price to reach the 176.4% extension at around $72.42 for green wave-c and today we got $72.20 and price rocketed higher after that. I continue to look for $79 for this bounce. Nothing’s changed that. The TIs are starting to move back up, coming off very oversold levels. There’s also options call buying behind this stock. Often these options trader are not wrong.

GILD

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NFLX: Hanging on life support here. Why? Price is right at the 50d SMA and at the lower green uptrend line, which has help price in check since the July low. In addition it broke below the upper blue dotted uptrend line. Not too good looking, and a break below (both) will be bearish and suggest major-5 can already be in and price will start to drop much, much lower. If price holds at current levels than it counts best, per EWT, as an overlapping ending diagonal in the making (green arrows’ pattern). Price should then now be on it’s way to new ATHs. So far the TIs are pointing down, wanting to see lower price, but a move higher on Monday will likely give nice buy signals coming off oversold. In conclusion: forewarned is forearmed…

NFLX daily