Bearish outlook for Netflix
Although I am long this stock, I am a bit bearish with my view. First off, the price seems to be too much above the cloud right now. There is much more downside than upside. If it holds, then eventually it will find support - but it definitely does need to consolidate a little for this momentum to be healthy.
Also I read about some insider sells which gives me some doubts about the upcoming earnings - revenue growth rate is probably slowing.
I will probably close my long position for a few k profit then enter short until just after earnings.
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Also I read about some insider sells which gives me some doubts about the upcoming earnings - revenue growth rate is probably slowing.
I will probably close my long position for a few k profit then enter short until just after earnings.
Follow me on StockTwits:
stocktwits.com/SHIGGA
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