Higher timeframes are building up pretty big bullish divergence. Along with general market reversal, I would expect NFLX to turn back around. But most likely it will be a B wave. It may take some time but by end of the year I would expect the price to drop down towards the channel bottom. NFLX is a volatile stock, so anything can happen. It has fallen over 50% several times before only to make a violent recovery to the upside. This time around is no exception. I don't believe the long term uptrend is broken. The Primary degree wave 5 is extending, but still within the normal parameters I believe. I am still looking for a much larger high in the next few years. But for now, I will look to sell the bounces rather than buying the dips. Will change my bias if there is a new all time high in the near future.
Note
Alternate bullish case
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Alt Bearish case
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