Mar. 10 at 10:30 PM
$NFLX I feel like everyone is being dramatic. Recent bullish Trend is still intact. Overall trend is still bearish (WB deal), but we're working our way out of that. We haven't broken the real support at 95-95.5. look at what happened today. Every hard drop into low 96s was instant reclaim. We just ran
$20+ in a week. Volume is lower on these past pullback days. I see it more as a normal pullback after a bigger run.. consolidation. The market is digesting the move. Lot of stop loss liquidity grabs. Bands are getting tight on 4hr so a move is coming real soon. I think it'll be up, I could be wrong, but I think everything still looks solid. The last 3 days have equaled -2.35% pullback after a 25%+ run. If you look at past Netflix runs, 3 days is very standard for a pullback after a run. Honestly, surprised we haven't sunk further. It seems worse when you stare at the ticker all day. If you didn't look all day and you looked you'd say "oh, dropped 1.4% today, not bad".