Netflix, Inc.Updated Stock Analysis: Netflix
Netflix is in a powerful downtrend in the Daily Chart, already under the 200ma. That makes us interest in seeking short positions in the stock, however, there are technical indications that a deeper PB can happen in the coming weeks (MACD divergence), so we advise waiting price make higher highs to sell short with a better entry price.
Note
We advise against trying to long NFLX to capture a size of the PB. It's projected in the range of 50% (which is a lot), but counter-trend against a powerful downtrend like this one is not a wise move. There's a strong likelihood of price just start ranging and then drop hard.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.