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Tech

Netflix (NFLX) : Misses estimates. Gap down

Netflix has been a good short since June.

It has been struggling to go  up further since its dramatic rise from Feb.

By now, for those who have been following NFLX, a short should have been in place for the bears.

On the charts, Netflix is a great setup for a short.

1. Tenkan sen cuts Kijun sen for a bearish cross

2. A gap down after missing analysts estimates

3. Volume

At this time, I am not satisfied with the price level yet.

Strictly from the charts, NFLX is still holding above the kumo.

In other words, they may have missed estimates this quarter, but there is a chance that good execution will let them move higher up.

What is the major catalyst to push NFLX down further?

I think if AAPL muscles their way into this market, NFLX will face tremendous challenge.

The key difference between NFLX and AAPL is global reach.

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By iam802

Trend trading with Ichimoku