Netflix Does it Again: Heads Down for the 3rd Straight Day

The Daily View for Netflix

  • Currently, NFLX’s price is up $1.02 (0.2%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Of note is that the 20 day changed directions on NFLX; it is now pointing down. 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.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • Currently, NFLX’s price is down $-3.14 (-0.62%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Netflix has now gone down 4 of the past 5 days.
  • 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 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.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled NFLX Netflix Technical Analysis and Fundamentals after Q1 you may find interesting:

Investors now just realized after the Q1, when Netflix paid subscriber additions were +3.98 million vs. +6.29 million expected, that they are paying too much for a company with a price per earnings of 91.19, no dividends, which after we get our lives back from the pandemic, may be crushed by the Cinema reopening’s or Disney Plus. So for ever…

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