Netflix is a darling stock of IBD.
Just within a few short months, it rises from $60+ all the way to $120+ (in about 4 months).
With the entire market going bearish, let’s see if the shorts can break NFLX kumo support.
As of now, the Tenkan sen should be cutting the Kijun sen soon.
Kijun sen (trendline) is still pointing up; a suggestion of its strength for the past few months.
Looking at the leading kumo, all we need is to push NFLX to $102 and it willl be enough to cause it to snowball downwards.