Netflix: the decline stays boxed in a tight range
Netflix stock gains 2.3% but stays boxed between the 70 and 72 areas
Netflix: the decline stays boxed in a tight range
Our view last week
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%.
This week's summary
Netflix stock stays boxed in between resistance in the 71.8 area (the daily VWMA) and support in the 70 area (the daily pivot point) — a corridor that won't let either side break out. The stock added 2.3% this week, with volume now balanced and the distribution phase still underway. The Sell signal has been under management for 13 weeks, with the short up more than 22%: our Netflix technical analysis tracks the decline's evolution week by week.
IQS Phase
65
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#124 / 138
US stocks
Trade P&L %
+22.11%
from signal to date, no stop loss
Rank position
ranks 124th among the 138 sell signals for US stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
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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