Netflix, Inc.Updated Neutral. Weekly Bearish Divergence is Compelling.
Although NFLX formed a double bottom on the daily, the right trough is lower than the left, which gives me a slightly bearish indication. In addition, the weekly chart, shown below depicts bearish momentum and a bearish MACD. At the same time, the daily chart indicates bullish momentum and a bullish MACD. Conflict! In cases like this, the smaller timeframes react faster than the longer timeframes, which means that a bullish outlook has the advantage. However, the weekly chart is compelling.
If price breaks outside the red channel, the target prices are marked in blue on the charts.
Happy Trading!
Weekly Chart
If price breaks outside the red channel, the target prices are marked in blue on the charts.
Happy Trading!
Weekly Chart
Note
NFLX broke channel resistance. Target: $535.Trade active
BTO 9/18 NFLX $550 CNote
Target Reached. New Target: $575.Trade closed: target reached
STC BTO 9/18 NFLX $550 CP/L: 100%
Trade active
BTO 9/18 NFLX $600 CTrade closed manually
Created new idea, with new price target, and new trade.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.