NETFLIX Will the stream giant correct after the Earnings?

23 de jan.

Netflix (NFLX) is reporting Earnings today and what we see from the past 4 weeks that has been unable to make new Highs, it might be pricing a peak. That peak might be a technical Higher High formation on the 1.5 year Channel Up, which is the Earnings disappoint, can initiate a medium-term correction towards the 1W MA200 (orange trend-line) and 1W MA50 (blue trend-line) Support Zone.

The technical confirmation for a sell will most likely be a 1W candle closing below the 1D MA50 (red trend-line), which has been the standard support of uptrends within the Channel Up. In addition to that, we will be expecting to see the 1W MACD form a Bearish Cross. On that signal, we will target 425.00.

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