Netflix (NFLX) and the Streaming Wars Message Board

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Technology Stocks : Netflix (NFLX) and the Streaming Wars

NFLX 1,138

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10:37 AM EST

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From: inthemoneystock	3/15/2018 1:15:42 PM
	of 2280

Netflix $NFLX Signals Decline Coming With Bear Flag, Overbought Indicators Shares of Netflix, Inc. (NASDAQ:NFLX) are consolidating in a bearish manner, after a strong reversal candle off all-time highs. This pattern setup has proven throughout history to favor another leg lower. Based on the chart support levels, first target is $285.00 followed by $228.00. With Netflix, Inc. up 75% since the start of the year, it appears to be a simple retrace play. Even just a 25% retrace brings it close to that $285.00 target. There is no arguing with how great of a company Netflix is, however, common sense dictates it has become overbought and the masses (average investors) are now fully invested. Anytime the public is all-in historically, a stock has topped. I expect the next leg lower to begin next week, and likely hit the $285.00 first target within 2 weeks. Gareth Soloway

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