Heavy Volume Breakout From Double Bottom Base

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Heavy Volume Breakout From Double Bottom Base
Tuesday, August 10, 2010 CANSLIM.net

Netflix Inc (NFLX +$8.11 or +6.94% to $125.01) posted a solid gain today with more than 3 times average volume as it rallied above the pivot point after an 8-week "double bottom" base. Technically it met the guidelines to trigger a proper buy signal, while it may be considered a riskier "late-stage" breakout. It was featured in yellow in today's mid-day report (read here).

It was recently noted in the 6/16/10 and 5/13/10 mid-day reports - "Look of a possible 'climax run' in the making. Since its latest strong quarterly report it has been noted as very strong in terms of key investment criteria. NFLX rebounded impressively since it was dropped from the Featured Stocks list on 6/02/09 based on persistent trading under its 50 DMA line. It was first featured in yellow at $37.13 in the 1/29/09 CANSLIM.net Mid-Day Breakouts Report (read here).

About : Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.

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