Netflix is Down for the 4th Day in a Row

The Daily View for Netflix

  • At the time of this writing, NFLX’s price is up $1.99 (0.39%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Netflix has now gone up 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up 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 10 and 5 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 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

  • At the moment, NFLX’s price is down $-5.02 (-0.99%) 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.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Of note is that the 20 day changed directions on NFLX; it is now pointing up. 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 D1:PT BEARS 320/340USD SHORT IT(SL/TP)(STOCKS) you may find interesting:

Why get subbed to me on Tradingview? -TOP author on TradingView-15+ years experience in markets-Professional chart break downs-Supply/Demand Zones-TD9 counts / combo review-Key S/R levels-No junk on my charts-Frequent updates-Covering FX/crypto/US stocks-24/7 uptime so constant updates NFLX D1:PT BEARS 320/340USD SHORT IT(SL/TP)(STOCKS)IMPORTANT NOTE: speculative setup. do your owndue dill. use STOP LOSS. don’t overleverage. 🔸 Summary and potential trade setup::: NFLX daily chart review and outlook::: updated/revised outlook:::…

ProjectSyndicate