Netflix pulled a squid games, (look up squid games crypto if you're lost) but honestly Netflix shit the bed. But now the beds being cleaned and you can start accumulating in this area $190 - $217 to sell in the mid $500's.
Reasoning: Gap fill at $198 and lots stop losses hit me thinks <$200 and then run up to the top of the Ichimoku cloud on the daily which coincides with ~540.
I'm setting a tight stop just in case of future Ackman scares.
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Updated:
I am selling any bounce with the intention to buy Netflix at $39
Reasoning: All parabolic trends move down 95% and a 95% move down from $700 is roughly $39-$45
Interesting take. Given how strongly bearish the momentum is it might be a bit ambitious to try and catch a bottom without any fundamental support. However, in the event that Netflix makes a big announcement on how it might be able to salvage its business then you may be on the path for a great trade here. We posted a similar idea detailing such
InvestingIdeas9
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@BrewerCapital_, hey great charting, very clean and informative.
InvestingIdeas9
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@BrewerCapital_, looks like our stops were blown through - I am now more confident that we will see double digit Netflix. See my latest idea on the SPX to see where the index will bottom which will tell us when to buy NFLX again.