NFLX printed a bearish crossover on the 2 Week MACD. This has only happened about a dozen times and over 10 of those times resulted in a significant drop in the following weeks. Average MAX drawdown in the last decade was about 22%, from the LOW of the printed 2 week candle, over about 70 days. This would put NFLX going back to about $385 which lines right up with horizontal support by mid-end of February.
Comment:
Pop after the histogram goes negative is common. Looking for the drop to accelerate from here.