Netfilx (NFLX) is having a historic weekly selling pressure after the negative quarterly report, which showed a loss of 200k subscribers, putting a stop to a growth for the first time in 10 years.
This chart on the 1W time-frame shows how the NFLX bubble popped in mid January 2022. The Jan 18 1W candle broke both below the parabolic growth curve (black) and the 1W MA200 (orange trend-line) in the same week. That was the confirmation of the start of a Bear Cycle. So far the stock is on an almost -70% correction from the November 2021 All Time High (ATH) but this is by no means the bottom.
Since the 1W MA200 broke, which was a trend-line supporting the bubble since January 2013, we have to go to the monthly (1M) time-frame to look for the next Support. That is the 1M MA200 (red trend-line) which is currently at $137.82. If that is reached before June, that would represent a -80% correction from the top, which is typical for Bear Market bottoms. The 1W RSI is at the lowest level historically since Netflix started first trading.
@Travilain Without doubt ,I will reduce my losses using his strategies .Big up
peterbhc
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lol - Well there definitely is a weekly multi year bullish divergence on the RSI
A10Equity
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@peterbhc there's bullish divergence until there's not
ShortSeller76
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Incorrect. Rsi was far lower last quarter before and after release of earnings. Rsi hit 9! When nflx fell from $525 to $368 and printed a $351 short term bottom before rallying to $457
vitalalyt
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when do you thing it would be good to consider go long?
Bekiumuzi_Dube
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im definetly seeing this opportunity for my firm to get in on this discount around 100z cause the reversal is going to be just as wild maybe some resistence in the 300z but this company is basically a monopoly in its oligopoly so it has no reason to fail in the long run