Netflix (nflx) Chart Breakout

Discussion in 'Investment Charts' started by longtermbull, Jul 18, 2017.

  1. gowiththeflow

    gowiththeflow Senior Investor

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    No real sign of a recovery Netflix shares as yet. Does anybody else think there is potential for significant upside from here?
     
  2. Chartman

    Chartman Senior Investor

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    Looking at the chart there is no support in the short term and resistance around $275 and $295 on the upside. This period of consolidation is positive as the shares are slowly creeping higher but it will take some push to get through the two resistance levels.
     
  3. Buyonthedips

    Buyonthedips Senior Investor

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    If it goes through $275 then the next stop could be $290 - is the worst over?
     
  4. gowiththeflow

    gowiththeflow Senior Investor

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    I thought there was further downside - interesting.
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    There seems to be mixed opinion about the short term direction of the shares - some saying subscriber growth is still slowing while others are pleasantly surprised on the upside. Shares dont seem too fussed about any disappointment.
     
  6. Buyonthedips

    Buyonthedips Senior Investor

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    Considering the results after the market closed :) Bang!
     
  7. gowiththeflow

    gowiththeflow Senior Investor

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    The positive vibe pre-results would appear to have been well short of the mark. How did markets get it so wrong - again with Netflix. Nobody saw the poor figures coming last time around.
     
  8. longtermbull

    longtermbull Administrator Staff Member

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    While there are faint signs of consolidation and potential upward move with Netflix, the feelgood factor of just a few days ago has not lasted.
     
  9. Buyonthedips

    Buyonthedips Senior Investor

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    The valuation premium Netflix has enjoyed seems to be evaporating. Has it fallen enough to make it worth while? I am not sure. Has it gone ex-growth at least in the short term?
     
  10. Chartman

    Chartman Senior Investor

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    The short term down trend is turning upwards with this one but there are some longer term downward pointing moving averages which will become resistance levels on the way up. I would not be a buyer at the moment.
     
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