Netflix’s Cold Streak: Down 4 of the Past 5 Days

The Hourly View for Netflix

  • At the moment, NFLX’s price is up $2.26 (1.31%) 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 100 hour timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning above it. 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 time of this writing, NFLX’s price is down $-6.59 (-3.66%) from the day prior.
  • Netflix has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend 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 downtrend on the 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 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.

Below is a daily price chart of Netflix.

NFLX

Featured Netflix Idea From TradingView

Below is a trading comment entitled NFLX: More Gaps to Fill you may find interesting:

I’ll keep this short and sweet. NFLX seems to have created a double bottom and is, like most stocks I’m following, oversold. My price targets are as follows: 207, 226, and 248. I got in this morning at $172.Not financial advice

FiboTrader1