stock update 11/4/2015: FB, NFLX, TSLA

Time to update some of the momo-stocks. First up, social media darling FB, then NFLX followed by TSLA. All have decent upside left according to the charts. click charts to enlarge

FB: the regular chart shows that we got an A.I. buy signal today, and FB didn’t disappoint on earnings AH, adding another 4%. Price will likely open above the R1 level of $108, thus opening the door to R2 at $115. The count is rather clear with intermediate i and ii as well as minor 1 and 2 completed. With the break away gap tomorrow minor 3 of intermediate iii will announce itself. Targets for intermediate iii and iv and Primary I are given (not changed since last month’s update). We regret selling our $102s at $104s a few days ago, but profit is profit. Today we slept at the wheel on this one, and now we’ll have to re-enter at a bit higher price than we wanted (~$100 would have been perfect). Oh well, can’t have it all šŸ˜‰

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NFLX: another online media darling. First let’s look at the regular daily TI chart. We can observe there was as A.I. buy signal late october and has remain on buy since. All TIs are pointing up, and the MACD gave a buy 4 days ago (when we bought). With today’s price action even the BBs started to expand signaling price has strength. As such we expect continued upside. If NFLX can break above $116-$117, then using symmetry of the triangle width (right chart with OEW count) we can determine an upside target of ~$150, which is exactly where the 1.618x extension is: typical for a 3rd wave. Hence we expect major 3 to top there. That’s still almost 50% upside from current levels šŸ™‚ Please note that the count for NFLX has been updated.

 

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TSLA: last but not least, albeit we’re more bearish longer term on this stock. We got an A.I. buy signal on this today due to earnings report yesterday. Given that the BB’s are expanding and all TIs pointing up we expect more upside. Resistance is at the LT SMAs (50 to 200d SMAs) upto $247. IF our count is correct then this falls well within the ideal intermediate b retrace zone (right chart).

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