Technical Education: Why Stock Basing Matters with NFLX, BYND, VRTX
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Technical Education: Why Stock Basing Matters with NFLX, BYND, VRTX
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About this listen
What is basing and why is it important before you buy a stock? These are the questions that are answered in this episode.
Brief: The reason basing is important is because a stock needs to change hands. This changing of hands have the people who are not patient with the stock or want to take profit sell to the people who are willing to hold it longer.
When using technical analysis for basing one can look for a flat base that is about 10-15% from the highest to the lowest or a consolidation, which is greater than 15%.
Below are the stock analysis for the week:
NFLX
https://www.tradingview.com/chart/NFLX/Gl6VhkMH-NFLX-buy-at-549-14-with-profit-taking-at-719-21/
BYND
https://www.tradingview.com/chart/BYND/wXv0jcYO-BYND-Buy-at-142-61-with-profit-target-at-208-95/
VRTX
https://www.tradingview.com/chart/VRTX/LDvuNEDP-VRTX-Buy-at-285-67-with-profit-taking-at-382-73/