Netflix a Possible buy ? 1D analysis Hello everyone , as we all know the market action discounts everything :)
We saw the market rally after bullish engulfing back in the 17 jun and reaching 544.65 , the market seems to be getting a small correction move after that rally .
Both the short term and long term trends are positive. This is a very positive sign.
the market price seems to be trending in a channel between the ranges of 469.67 and 586.60 , no signs of reversal for 1D chart was found yet and indicators are telling us :
1_The market price trending above the 10 MA and the 20 MA showing bullish movement
2_Stoch is in an overbought state with positive crossover happening when %K crossed over %D , %K is sitting at 83.46 and %D at 80.34. no divergences were found between the stochastic oscillator and the market price
3_MACD creating a positive signal crossing above the Market price
studying all that data we can tell that the Netflix stock seems to be moving up in the next few days and possible
We can see 2 important resistance areas:
1_first is at 540.47
2_second is at 565.18
Fundamental point of view :
An Altman-Z score of 6.58 indicates that NFLX is not in any danger for bankruptcy at the moment and the Piotroski-F score of NFLX is 7.00. This is a strong score and indicates good health and profitability for NFLX.
With the Current Ratio of 1.27 NFLX should not have any problems paying its short term obligations.
Netflix is doubling down on producer Shonda Rhimes. “I want her to think of Netflix as the biggest canvas possible to create on,” Netflix Co-Chief Executive and Chief Content Officer Ted Sarandos said in an interview.
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This is my personal opinion done with analysing of the market price and research online , not financial advice.
If you have any questions please ask
Thank you for reading.
