NEW YORK -- Crocs, INC. (NASDAQ:CROX) seems to be bouncing straight into resistance after previously poor performance and while many fundamentalists are thinking buy there are also many technical signs showing quite the opposite. As CROX has rallied over the last three days volume has dropped.
Think about it like a hamburger store that sells 10 hamburgers at $10 dollar/hamburger the first day = $100 revenue. The next day the store sells 5 hamburgers at $12/hamburger = $60 revenue and the third day they sell 2 hamburgers at $20/hamburger = $40 revenue.
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Think about it… yes the price of hamburgers might be going up but there are less people buying it. Ultimately this also equates to less money going into the system.
In the case of Crocs, INC. (NASDAQ:CROX) the volume has been dropping over the last 3 days showing a warning sign that less people are willing to pay the higher prices that the stock is reaching.
Of course if CROX was able to break 14.04 on strength of volume it could indicate a further break to the upside.
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Netflix, INC. (NASDAQ:NFLX) has also been much under the attention of traders recently. The general rule of thumb in the trader community, is that the more times a level of resistance is tested – the weaker it becomes.
With that being said the $85.00 level has been a big obstacle for Netflix since it had trouble breaking that area during the July, 2012 rally. Since then the resistance level was recently tested on October 31st but instead seeing a similar dramatic drop, the stock was met with a small set back followed by continued buying. To take learn how to identify these key support and resistance areas to help your trade you can get instant access to an online course here http://goo.gl/yga8r
Despite this seemingly continued fight against the price level , which normally indicates an upward breakout, there are technical signals on this stock from the money flow and hourly graphs that show the rug may be potentially be slowly pulling out from beneath. While there may be short term strength around the $80.00 area this will be an interesting stock to watch.
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