Did Netflix's Recent Sell-off Create Value in the Stock?
The 15-minutes intraday chart shows how shares of Netflix broke out rising above a significant downtrend days before the earnings release (See: Netflix’s Breakout May Boost Stock as Heading into Earnings). The strong quarterly results sent shares of Netflix surging higher by nearly 10%. But since then, shares of Netflix have been fallen hard and are in the process of refilling the gap created following results and retesting the breakout before results. But the gap has been filled—and the breakout retested—around $300. Shares of Netflix may resume the uptrend that has been in place since the start of 2018, back to its highs around $339, a jump of approximately 11% from its current price around $305.
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