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I don’t necessarily think that this is a market that you’re looking to buy yet, at least not until after the announcement and after we clear the $580 level. In the meantime, it does look like it’s trying to consolidate and perhaps form a bit of a base. So that in and of itself is somewhat bullish, but I just don’t think we have momentum yet.
NFLX Technical Analysis
Netflix, on the other hand, is going to open the session down a bit, but it is extraordinarily extended at this point in time, as in the last say two weeks, three weeks, we’ve launched from the 200-day EMA at roughly $840 to reach the $1,125 level during the Tuesday session. So, a little bit of a pullback makes sense.
I would keep an eye on a couple of major levels in the form of $1,000, and that assumes that we can even get there. And then again, I would watch this latest swing high right around $1,060. So, there are a couple of places that I think the buyers will be waiting. And if we cannot break down below $1,090, that tells you that we still have a ton of momentum here.
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