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NFLX trade ideas

Can Netflix Return to Old Highs?Unlike many big Nasdaq-100 companies, Netflix is below its 2021 high. Could that change for the streaming giant? The first pattern on today’s chart is the pair of bullish price gaps after the two most recent quarterly reports. The upward moves may reflect confidence that the company’s fundamentals are improving again. Second, NFLX made a higher high last week and a lower low (relative to the preceding week). This week is just the opposite, with small moves inside the previous range. That pair of bullish outside and inside weeks may reflect positive sentiment. Third, you have a falling trendline in late January and early February. The stock has broken that resistance and bounced above it. Finally, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That may reflect a short-term uptrend. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Important Information Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:NFLX
by TradeStation
1
Netflix (NFLX) Should See Further UpsideShort Term Elliott Wave View in Netflix (NFLX) suggests that cycle from 12.6.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 12.6.2023 low, wave (1) ended at 500.89 and wave (2) dips ended at 461.86. The stock extended higher in wave (3) towards 579.64 and pullback in wave (4) ended at 548.93 as the 30 minutes chart below shows. Internal subdivision of wave (4) unfolded as a double three. Wave W ended at 554.37 and wave X ended at 589.50. Wave Y lower ended at 548.93 which completed wave (4). The stock has turned higher in wave (5). Up from wave (4), wave ((i)) ended at 559.20 and dip sin wave ((ii)) ended at 550. Wave ((iii)) higher ended at 594.99 and pullback in wave ((iv)) ended at 591.53. Final leg wave ((v)) ended at 598.80 which completed wave 1 in higher degree. Pullback in wave 2 is now in progress. Down from wave 1, wave (a) ended at 577.46 and rally in wave (b) ended at 590.42. Wave (c) lower ended at 569.66 which completed wave ((w)). Expect rally in wave ((x)) to fail and the stock to turn lower in wave ((y)) before ending wave 2. As far as pivot at 548.91 low stays intact, pullback should continue to find support in 3, 7, 11 swing for further upside.
NASDAQ:NFLX
by Elliottwave-Forecast
Post Earnings Continuation to 585This idea is an update to my original idea "Earnings Pop to 520" (see link). NFLX needs to make a sustained break above 569 to initiate the next move higher to 585 (minimum target). Once we get this break it will take the following path - expected path is the black arrow: - Run to 585 (by 2/2/2024 earliest, 2/9/2024 latest) - Pullback to test 577 for support - Then at least one more leg higher to 600-620 ( point target = 610 by 2/16/2024) The green funnel represents buying pressure that will drive this higher. The most important channel is the dashed deep purple/blue boundaries w/ solid blue center - this is the demand zone that it will respect during the markup. ----------------------------------------------------------------------------------------------------------- Bigger picture: If you go back to Jan. 2022, there is a gap down from 563.36 - 566.88. The earnings pop filled this gap and we are currently establishing support in that range. Confluence at the 585 level as an initial target: - 0.786 retracement of the ATH (700.99) back in Nov 2021 = 585.80 - larger degree activate markup level at 585, this will act as another bullish driver to send this higher to 610 after 585 is tested - Equilibrium levels where supply = demand at (2/2/2024, 583) and (2/5/2024, 584) ** Stop loss is a sustained break below 556. It can trade below that intraday, but if it closes below 556 on 2 consecutive days it will assume risk of dropping lower to test 537 Good Luck bears, bulls still have this. ~Jerrymandering 101
NASDAQ:NFLXLong
by JerryManders
18
NETFLIX Correction starting. How low can it go?Netflix (NFLX) has gone a long way since our November 28 2023 buy signal (see chart below) that reached our $580 Target, giving more than +20% return: As the price has been consolidating for practically 2 weeks, it is time to update our outlook for medium as well as long-term investors. The long-term Bullish Megaphone pattern that started on the July 13 2022 Low, is intact and the stock continues to respect its Support and Resistance levels. The current consolidation is coming off an overbought 1D RSI peak at 83.00, which has since corrected, while the price was consolidating, which is a technical Bearish Divergence. We have previously seen the same kind of overbought RSI Bearish Divergence on the July 19 2023 and February 03 2023 peaks, both Higher Highs on the Bullish Megaphone. As a result, we expect a correction of around 4 weeks and being on a consolidation suggests that it is still early to enter. The 1st Support level is the 1D MA50 (blue trend-line), which has been intact since the October 27 2023 bounce, but we are aiming for the 1D MA100 (green trend-line) as it has been touched during both 2023 correction waves. Our Target is at $485, but we will book the profit earlier if the 1D RSI hits the 30.00 oversold limit first. The Sine Waves can be used as an extra decision making indicator here. As you can see they fairly match the Peaks and Lows of the stock price, so if the price approaches the Sine Bottom March 20 and hasn't rebounded yet, we will close the shorts and buy long-term regardless. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NFLXShort
by TradingShot
Can NFLX trend higher ? LONGIn its past NFLX got through the Covid downturn with only a 10% correction, then went through a rise into a year of consolidation and finally another big trend up which reversed badly in Winter 2021. After a business model adaption and modification of subscriptions and password/account sharing protections, price has made great gains. On the weekly chart, a trend upward has been in place since July 2022. On the weekly chart, bigger ranged candles have been put in for two weeks. It seems that from here, while NFLX could rise heading toward a new all time high. On the other hand, just as it did in 2020 at a similar price level ( marked as # 1 and an oval around the price action), it could get range bound or consolidated ( # 2 marking the present.) The mass index indicator gives a hint that the trend will continue and not reverse. It is fluctuating in a mid-range without a hint of rising into the threshold and trigger zones. Notably in the 2021 downturn, the RSI and MACD ZL) signaled the reversal before the mass index. Those two indicators in the present show no hint of bearish divergence so far. Accordingly, for the time being, NFLX continues to be a long trade with 20% upside into the level of the all-time high ( discounting any effects of inflation and dollar devaluation in any of this which is very important overall but generally ignored).
NASDAQ:NFLXLong
by AwesomeAvani
Netflix is cancelledBack in July 2023 NASDAQ:NFLX on earnings did a weekly price Spike across a major 50% Retracement level. I entered into a short trade on the stock which worked well for a few months until the market turned decidedly bullish in October and then the trade stopped out. The recent earnings pushed the stock price higher as Netflix net income is dramatically higher than it was last year. In the meantime I switched my cell phone carrier to T-Mobile and with the unlimited data package (that I need as my backup Internet for trading) it included "free" Netflix. Fine, I'll setup an account, but I will name my profile what I named it... Neflix content has declined in quality dramatically over recent years as intellectual property owners have rescinded or let expire their content deals to put them on their own platforms. There are also certain... ideological... leanings of Netflix content that I will not expand upon. Either way, my feelings about a company I try to avoid trading upon... because as we can see in this example one's feelings do not translate to good trades alone. However, in addition to lackluster content a change in their rate plan is underway which may be significant. Netflix is trying to upsell customers on "better video quality" while inserting ads into lower tier content. I for one refuse to watch commercials so I promptly cancelled whatever "free" service that T-Mobile was offering me. Right now I do not think there is a trade to be made either on this change or price but I am watching. A bit of trading history to share about Netflix... back in 2011 Neflix had a whopping -83% drop when it tried to change its subscription plans to separate the mail order service from the streaming service. Netflix was being forward looking but the market was still living in a world that expected us to be ordering DVDs forever. The market is very often very wrong.
NASDAQ:NFLX
by norok
2
Possible Bullish Setup on NFLXKey Takeaways: +Since ER gap up we had a continued uptrend leading into this tight $15 descending channel which I am approaching with a slightly bullish breakout bias provided we hold the key demand box +Trending above 20d SMA and 20d SMA > 50d SMA > 200d SMA meaning we are in a healthy uptrend +I would expect ~$15 move topside after breaking the TL resistance and 566.5 short term supply confluence area which would send us to the PTs listed in the chart
NASDAQ:NFLXLong
by brycat23