NETFLIX DROP EMINENTPrice of Netflix has reached the top in MACD , I expect the price to fall and reach 252$ mark soon.
Low volume is indicated so it is most likely to fall.
Go for short after break out.
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Netlflix
NFLX selloff is 'overcooked'NFLX can down -35%?
I am wipe out and you?
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Shares of Netflix Inc. NFLX, -23.32% plummeted 19.6% in premarket trading Friday, as the streaming-video service's disappointing outlook overnight prompted a number of Wall Street analysts to cut their ratings, but at least one analyst said the selloff appears "overcooked." Benchmark's Matthew Harrigan, who's been bearish on Netflix for at least the past two years, isn't turning bullish, but he did raise his rating to hold from sell. "Netflix stock should find a floor as the $405 after market price discounts both member growth deceleration and margin underachievement," Harrigan wrote in a note to clients. He "vacated" his previous $470 stock price target, but now sees fair value for the stock at $450. Harrigan said he's still bullish on the direct-to-consumer streaming migration, but he views Netflix as "first among equals" rather than a dominant player commanding overwhelming network effects. The stock, which is on track to open at the lowest price seen during regular-session hours since June 2020, has already slumped 22.2% over the past three months through Thursday, while the S&P 500 SPX, -0.82% has slipped 1.5%.
Netflix Correction by Price ActionActually i have short position from 420 which is starting point of C in my Bullish Bat Pattern. However, i took my position because of daily price action. As you can see A and C points are closing points of daily candle and it clearly says us to short it.
I will close most of my position at 380 but short position can continue till reach 356.
In a nutshell, i am going to close my positions at 380, 370 and 365.
NFLX breakout to alltime highsNFLX breaking out to all time highs here. This has been in range since JULY. if we can hold here could be starting a new trend on this to the upside.
