Netflix (NFLX) ...Will this Horror Show ever end ?
Netflix has been one of the bigger casualties of the NASDAQ selloff managing to lose over 74% of its value since early November 2021.
Taking a 10,000 foot view and reviewing a monthly log chart(insert) suggests a well defined channel going back to NFLX's debut in May 2002.
The bottom of this channel now rests in the $150- $160 area which we will probably have to test before a significant trend reversal takes place.
So Netflix worth watching here.
No apparent harmonic patterns are evident. If any emerge I will update below,
Caution:
This is educational not investment advice.
Do your own due diligence while watching the bigger picture(a bad pun) and review world events around you.
We are currently in a very volatile market period...don't try and catch a falling knife or risk capital you can't afford to lose.
Let if bottom first.
Good Luck and thanks for reading.
Hopefully you found it this useful.
S.
Netflix has been one of the bigger casualties of the NASDAQ selloff managing to lose over 74% of its value since early November 2021.
Taking a 10,000 foot view and reviewing a monthly log chart(insert) suggests a well defined channel going back to NFLX's debut in May 2002.
The bottom of this channel now rests in the $150- $160 area which we will probably have to test before a significant trend reversal takes place.
So Netflix worth watching here.
No apparent harmonic patterns are evident. If any emerge I will update below,
Caution:
This is educational not investment advice.
Do your own due diligence while watching the bigger picture(a bad pun) and review world events around you.
We are currently in a very volatile market period...don't try and catch a falling knife or risk capital you can't afford to lose.
Let if bottom first.
Good Luck and thanks for reading.
Hopefully you found it this useful.
S.