Netflix is Down for the 2nd Day in a Row

The Hourly View for Netflix

  • Currently, NFLX’s price is up $2.61 (0.4%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Netflix’s hourly price chart is shown below.

NFLX

The Daily View for Netflix

  • At the moment, NFLX’s price is down $-5.97 (-0.89%) 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 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Netflix. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.
  • 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 Up and Up you may find interesting:

Netflix is steadily going up. The price is moving in an uptrend and has now bounced off the resistance. Most likely, the price will consolidate to $ 646, bounce and go up to new highs: $ 700, $ 720, $ 740.

PIP-Pocket