Is Netflix Streaming a Bear Flag?

Netflix has struggled for most of 2019 and now it faces the Disney+ challenge going into yearend. So far, the Magic Kingdom’s new streaming service, backed by one of the richest content libraries anywhere, has already garnered more than 10 million subscribers.

Meanwhile, the NFLX chart is showing some potential risks. It’s rebounded weakly since late September, and tried to rally after earnings. But now that gap up is looking more like an island reversal pattern – especially because NFLX couldn’t get back over $300. Is the recent move higher turning into a bearish flag?

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