NFLX AnalysisPrice playing nicely to my last analysis. Price missed the 50% FVG at 459.25 be a little and proceeded to dump. My expectation was for price to hit the bullish OB at 375.87. This has happened last week, giving us a -16.19% move to the downside since my last analysis. From here, I'd wait for a confirmation for price to move back up to the premium level, potentially to fill the imbalance created at 411.39.
NFLX trade ideas
$NFLX short term bounce ideaNASDAQ:NFLX just tested the daily breaker block and giving a change of character in 15 minutes. there is an order block with liquidity. if the liquidity is taken a bounce to test the previous SL hunted zone is possible. I am not trading. This is just a passion in identifying trades.
This is only for educational purposes.
NetFlix - Come in, the Water is fine!Below the Lower-Medianline-Parallel, the Water is fine!
,..you think?
Maybe, but there's a Shark waiting for you.
He's Name is "FOMO"!
If you waited for a retest of the L-MLH, then you wasted your time. Here is how you trade a open/close below the L-MLH:
- short immediately with a money Stop/Loss
or
- wait for a re-test of the L-MLH, and short from there on obvious weakness. Put your Stop behind the re-test high.
But don't jump in the mouth of the "FOMO" Shark!
I added the Members material on my website.
Check it out, it's free for all, but you must be a brave Trader §8-)
Netflix technical viewNASDAQ:NFLX should be coming back to reality.
Their shows and movies are either terrible, over budgeted, and only a small minority are good, while, competitors such as HBO and Apple are making much more efficient content at a higher path.
Technical aspect looks terrible, sold my shares bought at $192
Inverse head and shoulders set upreviewing NASDAQ:NFLX monthly chart, and looking through multiple time frames. I discovered a sneaky Inverse head and shoulders on NFLX.. Stoch RSI on the monthly chart is showing a double top, however on the 1000r you'll notice oversold stoch rsi.. previous resistances from a bearish crab (b) leg is acting as support..
I may do a video analysis on how I came to this analysis if enough people vote this up, and agree w/ the idea. Thanks for letting me share my analysis. Cheers.
NFLX: Impulsive move C to the downside (ABC-correction)Netflix made an lower high at the 0.618 and 0.786 Fib Retracement
Looking for an impulsive move down to complete the ABC-correction and Primary wave 4
Targets are 0.382 Fib retracement of Primary wave 3 and 0.9 - 1.05 Fib extension of wave A
Next impulsive move up will complete Primary wave 5 and cycle degree wave 3
NFLX Monthly Chart... 5 trading days to go before the close of the month... which means this last bearish candle that broke the current uptrend can still reverse... let's wait and see.. but currently it is quite bearish... adding the doji that occurred at the .618 Fibonacci retracement level (in red), the RSI not even reaching 60 before reversing and the MACD histogram starting to break down.
Zoom out and NFLX is still on a major long term uptrend... even if the price would drop substantially.
NFLX - AnalysisNFLX
W1 - After breaking through the trend line, a head and shoulders pattern is formed. If this changes the direction of the trend, we could see moves towards the 285.54 levels in the long term.
If this is a correction, we could see the price move towards the 348.15 level. If the price retests the level of 379.10, then the road is open to a fall to lower targets.
What can you expect?
Movement to the levels 379.10 - 348.15 - after breaking through 379.10, the price may begin a correction to consider buying, awaiting confirmation.
Short
Targets – 379.10 - 362.83 - 348.15
Long-term perspective (retest required) – goals 348.15 - 314.88 - 285.54
Long - will be considered when the situation changes.
NFLX - Expecting Strong Support @ 380Since it began trendng more than a year ago from July 2022, NFLX has a tentancy to correct back to its rising trendline every 3 to 6 months or so.
As at its close @ about 400 yesterday, it has already corrected 50% from it's recent AB swing. Whether it will find support here remains to be seen.
Another 5% downside from here would bring it to 380, which is likely to be a strong support due to a confluene of:
1. Long term trendline support (Red)
2. Horizontal Resistance turning Support (Black)
3. 61.8% fib retracement of it's AB swing
4. Gap close (minor)
All long bets are off should it break and stay below 380.
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
Netflix Breaking Major Support Not a Good look Hi guys! This is an Update on Netflix (NFLX) on the 1 day chart.
We are currently at risk of a trend change in the makings due to a breakdown of Major Support.
This is a zoomed in look on the daily timeframe.
But if you look at my previous idea below, notice the Uptrend Channel that Netflix has been following since June 2022.
Todays candle is currently BELOW this Support trendline of the Channel.
Not a good look for Netflix.
But brings in opportunity for take a Short, once confirmation comes in.
Notie also that with the print of the Massive BEARISH Engulfing Candle, we are now below the 21 EMA.
Note the BEARISH Engulfing Candle indicates extreme selling pressure. It shows that the majority of the previous move up to the resistance was sold off by this 1 candle print.
With this daily candle & the engulfing candle it equates to the entirety of that move.
Being BELOW the 21 EMA, tells us declines are likely ahead of us. ALso if we are where we are with the close of our current daily candle, we will confirm BELOW 21 EMA.
Thus supporting probability of further declines.
Look to the Black Horizontal Line below us for our current target for this price decline.
BUT if we can somehow move back ABOVE the channel, by the end of the week before CONFIRMATION. This could support the probability of us resuming our Uptrend.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on NFLX in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
What if?? Can NFLX reverse and rise?The current secondary downtrend has already shown signs of reversal with the latest correction leg breaking the previous top.
If prices stop at the purple rectangle (33-66% reaction) and break the previous top we will have a confirmed reversal pivot.
With this, the possibility of a new primary uptrend leg arises.
Netflix (NFLX) Looking for Double CorrectionNetflix (NFLX) decline from 7.20.2023 high is unfolding as a double three Elliott Wave structure. Down from 7.20.2023 high, wave (A) ended at 411.88 and rally in wave (B) ended at 445.25. Wave (C) lower ended at 398.15 which completed wave ((W)). Rally in wave ((X)) ended at 453.53 with internal subdivision as a zigzag strcuture. Up from wave ((W)), wave (A) ended at 437.02 and pullback in wave (B) ended at 404.50. Wave (C) lower took the form of a 5 waves impulse which ended at 453.53 as the 30 minutes chart below shows. This completed wave ((X)) in higher degree. The stock then turned lower in wave ((Y)).
Down from wave ((X)), wave 1 ended at 436.7 and rally in wave 2 ended at 449.89. Internal subdivision of wave 2 unfolded as a zigzag. Up from wave 1, wave ((a)) ended at 446.81, pullback in wave ((b)) ended at 438.85 and wave ((c)) higher ended at 449.88 which completed wave 2. Down from wave 2, wave ((i)) ended at 429.17 and wave ((ii)) ended at 437.59. Wave ((iii)) ended at 414.81 and wave ((iv)) ended at 421.55. Expect the stock to extend lower in wave ((v)) which should complete wave 3. Afterwards, it should rally in wave 4 before another leg lower to end wave 5 of (A). Near term, as far as pivot at 453.53 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.