Monday, September 27, 2021
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Netflix Just Breached This Major Moving Average Level

The Hourly View for Netflix

  • Currently, NFLX’s price is down $-2.56 (-0.5%) from the hour prior.
  • Netflix has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • The moving averages on the hourly 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.

Netflix’s hourly price chart is shown below.

NFLX-1628002710.33213.png” alt=”NFLX“/>

The Daily View for Netflix

  • At the moment, NFLX’s price is down $-6.76 (-1.31%) from the day prior.
  • This is the 2nd day in a row Netflix has seen its price head down.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them with price now being below it. The moving averages on the daily 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.
  • Divergence between NFLX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NFLX’s price.

Below is a daily price chart of Netflix.

NFLX-1628002721.67915.png” alt=”NFLX“/>

Featured Netflix Commentary From Twitter

Correct me if I’m wrong. NFLX went from a user of cash, and a CCC debt rating to a B rating, while not showing that they can actually make money. Am I wrong?NA

VolatilityWiz



Netflix Just Breached This Major Moving Average Level

Tags: Netflix Stock
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