NFLX buy at $549.14 with profit taking at $719.21

NFLX, Netflix, is a little bit different since the price is already above the buy point by the time this will be published. The better buy point would be 510.92 because there was a nice 8% consolidation around that area. You can't change the price now so we can only look for future buy points.

After the run up of 11%, it took a few days to digest the gains and now is going up again. So why am I saying a buy at $549.14? It is because there is a resistance at $550 shown by the large price move on 08/26. Then the day after there was a gap down at the open. This means someone out there is selling when the price hits $550. This is a sign of resistance. Now the next less risky buy point is $ 575.37. Why because if NFLX is bought at $575.37 with a stop loss of 7% the the loss would be only about 3%, which is lovely.

NFLX fundamentals are below, which is just lovely for an ~250b market cap company.

Yearly EPS
2018: 2.68
2019: 4.13
est 2020: 6.21
est 2021: 8.81

Quarterly Sales
Sep-19: +31%
Dec-19: +31%
Mar-20: +28%
Jun-20: +25%

Comment:

Just re-analyzed my analysis and I don't know why I put a price target of $546.14 besides out of massive exuberance. The buy point should have been either $510.92 or $575.37 based on the two green lines that were drawn.