Netflix bounces, the decline loses its stride
Netflix bounces 1.7% as the sell signal cools off near the 67 area
Netflix bounces, the decline loses its stride
Our view last week
Netflix shed another 6% this week, with earnings now in the rearview mirror. The weekly ADX climbed to 21.3: the trend keeps gaining conviction, with sellers back in control of volume. Price is sliding toward the support band between the 65 and 68 areas, the same zone tested back in June. The short, under management for 12 weeks, is now up to 25.1% in profit.
This week's summary
Netflix bounced 1.7% this week, with 85% of volume back on the buy side after two heavy losses of -5.5% and -6%. A clean double bottom formed on the daily chart in the 67 area, with an intermediate 9% rebound off the lows. The weekly ADX climbed to 22.6 and the trend is gaining conviction, but money flow stays negative. Netflix shares remain boxed into a tight corridor between the 69 and 71 areas, with the sell signal still up more than 23%.
IQS Phase
72
in tension
Signal Strength
32
decline losing steam
Sizing
REDUCED
Ranking
#84 / 141
US stocks
Trade P&L %
+23.86%
from signal to today
Rank position
ranks 84th among the 141 sell signals for US stocks in our ranking, with a signal strength of 32 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly +0.17% · monthly -3.92%
NFLX belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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