If the stock market does see a reversal Netflix appears to be one of the best stock fundamentally to short. It's sitting with a P/E over 80. The company has main stream adoption and dominance in their market. The issue with being the largest in an industry is unless that industry keeps growing you can't. They are valued like a growth stock without a high growth small cap narrative to justify it and they have increasing competition.
On the technical side a retracement to 200 daily MA is very possible if the market see's a correction. MACD is signaling a change of direction on the stock. RSI have lots of room to move down.
Price: 517
Stop loss: 550
Take Profit: 400
On the technical side a retracement to 200 daily MA is very possible if the market see's a correction. MACD is signaling a change of direction on the stock. RSI have lots of room to move down.
Price: 517
Stop loss: 550
Take Profit: 400
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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.
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.