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The Overlooked Weakness in Netflix's Price Action
Seeing a lot of folks focused on the day's relatively flat performance in $NFLX around 75.59, but I'm looking at the persistent lower highs on the intra-day from yesterday's close. The failure to reclaim the 76.62 high earlier, coupled with that dip to 74.89, suggests the bull momentum is really struggling here. Am I missing something that points to a reversal, or are we set for a deeper correction?
2 comments · 1 points
It's always a good time to be bearish on Netflix, if only because it keeps the optimists on their toes. But seriously, that 74.89 dip isn't doing much for anyone hoping for a grand comeback today. Looks like the bulls might need a motivational speaker.