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$TIVO : Breaks kumo support. Bearish trend confirmed.

 

$TIVO breaks kumo support

 

5 year Ichimoku chart. Right at kumo support

TiVo ($TIVO), make its mark when they launched the first digital recorder more than a decade ago. They had ride the trend when demand for their box surge and at the same time cost of components fell.

With the success of Netflix, and upcoming challengers varying from Apple, Amazon and Google, it seems that the uptrend for TiVo has about to end.

The first Ichimoku chart shows that the price has pierce through the kumo support and is in bearish territories.

The second Ichimoku chart, which spans a 5 year period, shows the price level right at kumo support at around $11.99.

However, the kumo support is thin there and  price can easily drop below that level.

 

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Tech

Netflix (NFLX) : Strong move off the kumo support


Netflix (NFLX) has a strong move yesterday; opening at $179.82 and closing at $187.88 with very little retracement off the opening high.

A break above the kumo will signal that it is attempting to break its $200s again.

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Tech

Netflix (NFLX) : Price under pressure

Netflix price is under pressure.

It has fail to bounce up above 180 and is now sitting just above the kumo support.

On the leading kumo, we can see that it has twisted suggesting a change in trend is on the way; with a bias towards the down side.