Macro Netflix corrections
Netflix is great. I love the company, service, etc. It's over-valued.
Several major corrections to Netflix have shown very clear bearish divergences on a monthly chart that can aid one when trading on a macro scale. There is no current divergence on this scale -- and while I actually think we could see further correction here, the better "tell" would be for Netflix to continue to rise in price over the coming months while monthly RSI cools -- to offer us a divergent setup that could be quite fruitful. I'll be watching.
Also, a bullish divergence on this scale could help us ride Netflix's next great wave, whenever that may be.
Several major corrections to Netflix have shown very clear bearish divergences on a monthly chart that can aid one when trading on a macro scale. There is no current divergence on this scale -- and while I actually think we could see further correction here, the better "tell" would be for Netflix to continue to rise in price over the coming months while monthly RSI cools -- to offer us a divergent setup that could be quite fruitful. I'll be watching.
Also, a bullish divergence on this scale could help us ride Netflix's next great wave, whenever that may be.
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