Netflix Came Into Today Down -2.92%

The Hourly View for Netflix

  • At the time of this writing, NFLX’s price is down $-1.45 (-0.72%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Netflix has now gone down 4 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • At the moment, NFLX’s price is down $-5.98 (-2.92%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between NFLX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NFLX’s price.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled NFLX Breakout Upward to Fill April Gap? you may find interesting:

After a long period of trading sideways NFLX seems to be ready for a move. I do think if it can hit $205 that would be a solid indicator of a push upward. What does everyone else think? NFLX

CDR1334