THIS IS NOT READY FOR ENTRY IMO NFLX looks to be headed down while it fills this consolidation wedge. This Weekly view shows the next trend is bearish. I would need to see 1-2 more weeks of time, or cross of the MA to enter bearish. I would prefer to wait for bullish entry here around March 2020 (more room to run).
I will keep an eye on this and update as things develop - Update around March if not earlier. I have no active position currently in NFLX.
NFLX was downgraded this morning but still has a 23% average upside analyst target - marketbeat.com/stocks/NASDAQ/NFLX/price-target/ This is what drew my attention - the downgrade. I will update if we break the 10WeekMA, break downtrend, or get to March 2020.
Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY. Short SPY, AAPL