NFLX is seen to continue to make its lower low and lower high since the H&S. There is no certain signs indicating the downtrend nearly ends.
In fact, a leading diagonal in a bear market is forming quite clear. This bearish leading diagonal can be ended in the 5th wave at $245 before heading back from A to B (Purple) for a short term rally.
Check out my linked H&S analysis below
There weren't any short term support if the NFLX continues to fall until 2013 and 14 for major price support. This could be seen at around $230.
Whether NFLX getting out of that ABC corrective pattern depends on how bearish the US stocks's outlook in 2019. At the moment, US Unemployment is still fairly low. However, risks are from Fed putting up interest rate further to squeeze inflation. If this continues in 2019, we might see a potential significant slow down or I mean the US Eco can enter a recession since the 2018 GFC.
Disclaimer
Opinions only!
In fact, a leading diagonal in a bear market is forming quite clear. This bearish leading diagonal can be ended in the 5th wave at $245 before heading back from A to B (Purple) for a short term rally.
Check out my linked H&S analysis below
There weren't any short term support if the NFLX continues to fall until 2013 and 14 for major price support. This could be seen at around $230.
Whether NFLX getting out of that ABC corrective pattern depends on how bearish the US stocks's outlook in 2019. At the moment, US Unemployment is still fairly low. However, risks are from Fed putting up interest rate further to squeeze inflation. If this continues in 2019, we might see a potential significant slow down or I mean the US Eco can enter a recession since the 2018 GFC.
Disclaimer
Opinions only!
