As the 'stay at home' stock trade par excellence, NFLX has benefited from the resurgence of FANGs since the March lows (+58%).
The streaming offering is getting overcrowded and among the others Disney will rely on Disney+ more and more as a core part of their offering, which means that NFLX pricing power is eroded.
With the economy reopening, NFLX appears overextended and is due for a healthy pullback, probably leading the FANGMANs on the way down.
First stop 100 EMA at 410, next 200 EMA.
The streaming offering is getting overcrowded and among the others Disney will rely on Disney+ more and more as a core part of their offering, which means that NFLX pricing power is eroded.
With the economy reopening, NFLX appears overextended and is due for a healthy pullback, probably leading the FANGMANs on the way down.
First stop 100 EMA at 410, next 200 EMA.