Netflix is Down for the 3rd Day in a Row

The Daily View for Netflix

  • Currently, NFLX’s price is up $1.55 (0.31%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • 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.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Netflix. Given that we see downtrend on the 20 and 10 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 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 $-0.24 (-0.05%) from the day prior.
  • This is the 3rd day in a row Netflix has seen its price head down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Of note is that the 100 and 50 day changed directions on NFLX; they are now pointing up. The moving averages on the daily 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.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled NETFLIX and CHILL into Earnings you may find interesting:

The TOSOPTION algorithm continues to sell short NFLX; however, momentum has decreased in acceleration and could reverse net positive. Last week NFLX over the weekend strategy TGIF was a success and we expect the same trade to …

TOSOPTION